KIA gets $80 million loan

JAKARTA (JP): Publicly-listed ceramics maker PT Keramika Indonesia Assosiasi (KIA) has obtained US$80 million in a syndicated loan to be used for the expansion of its wall-tile manufacturing facilities in Kerawang, West Java.

The company's president, Sugiarta Gandasaputra, said in a statement yesterday that the loan would be invested to raise its wall-tile output capacity to 11 million square meters a year by the end of 1997, from the current capacity of 6 million square meters.

Sugiarta said the company, through its subsidiaries PT KIA Serpih Mas and PT Kia Keramik Mas, will expand its floor-tile production capacity to 14 million square meters from the current level of 6 million square meters.

The participating banks in the syndication loan are the Singapore branches of Bank Brussels Lambert Ltd., NV De Indonesische Overzeese Bank, The Royal Bank of Scotland Plc., the Singapore branch of Union Europeanne de CIC, the Singapore branch of Credit Lyonnais, Overseas Chinese Banking Corporation and PT Mashill Asia Finance. (rid)