Loans for Bukaka SingTel

Loans for Bukaka SingTel

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.