Loans for Bukaka SingTel

Fri, 07 Jun 1996 | Source: REUTERS

SINGAPORE (Reuter): Singapore Telecommunications Ltd (SingTel) said yesterday that its PT Bukaka SingTel International (BSI) has mandated Kreditanstalt fuer Wiederaufbau (KfW) to arrange long- term financing of US$250 million.

BSI is a joint venture project between Singapore Telecom International (STI), a wholly owned subsidiary of SingTel, and PT Bukaka Telekomindo International (BTI), a subsidiary of Bukaka Teknik Utama.

STI owns 40 percent of the project, with BTI holding the remaining 60 percent.

BSI signed the agreement with PT Telkom of Indonesia last October, SingTel said. BSI is required to install 403,000 lines by 1999. It will also operate and maintain PT Telkom's existing East Indonesia fixed telephone line network under a 15-year franchise.

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