PT Antam is expected to use the loans to build the fourth unit of its feronickel processing plants with an annual production capacity of 27 thousand tons of nickel in East Halmahera, North Maluku province.
Bank Mandiri Vice President Director Riswinandi in his capacity as the coordinator of the consortium signed a mandate letter for the financing of the project with Antam President Director Alwinsyah Lubis. The letter was later signed by representatives of other members of the consortium, namely Bank Rakyat Indonesia, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation at the Antam building here on Tuesday.
Riswandi said Bank Mandiri`s support for the project would hopefully assist Antam in increasing production capacity to meet the rising domestic need for nickel due to the steady growth of national manufacturing industries.
"Mining is one of the sectors which give the greatest contribution to the national economic growth. Therefore, Bank Mandiri has committed itself to supporting any effort to strengthen the sector," he said.
In 2011 Antam issued the first phase of senior bonds worth Rp3 trillion for routine investment and business expansion.
The company appointed Mandiri Sekuritas, Deutche Securities Indonesia and Standard Chartered Securities as bond issue underwriters.
Bank Mandiri, along with BRI, Standchard and Deutsche Bank acted as standby buyers for the bonds in question. (*)
Editor: Kunto Wibisono
Copyright © ANTARA 2012
