Project aid for telecoms

JAKARTA (JP): PT Aria West International has signed an agreement with four leading arrangers to raise US$615 million in project finance facilities to finance the establishment of 500,000 telephone lines in West Java.

The company said in a statement yesterday that the four arrangers were Chase Bank, Canadian Imperial Bank of Commerce, Credit Lyonnais and Sanwa Bank.

Aria West, a joint operation licensee developing basic telephone services in West Java, is owned by PT Artimas Kencana Murni, US WEST and the Asian Infrastructure Fund. (rid)