Pertamina receives loan

Pertamina receives loan

JAKARTA (JP): U.S. Exim Bank has agreed to provide state-owned
oil and gas company Pertamina with a US$285 million loan facility
to refinance part of its debt to an international bank
syndication led by Hong Kong's Citicorp, Pertamina said on
Monday.

Company spokesperson Ramli Djaafar said in a statement
Pertamina had borrowed $633 million from the bank syndication to
finance its project to overcome the bottleneck at its Cilacap
refinery in Central Java.

According to the statement, the U.S. bank deal was reached on
Aug. 24 in Washington.

The project was carried out by U.S. construction company Fluor
Daniel Engineering and Construction Ltd. and was completed in
March. (01)