KIA gets $80 million loan

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)