PT Indonesia Chemical Alumina (PT ICA), a subsidiary of PT Aneka Tambang Tbk (ANTM), was exploring a loan from a Japanese bank. This loan will be used to fund the project Chemical Grade Alumina (CGA) worth U.S. $ 450 million.
Finance Director Djaja M Tambunan said that the exploration of external funding will be combined with capital spending budget of ANTM in the year 2011, amounting to more than Rp 2.3 trillion. This loan is also likely to get, because the position of the position of Debt to Equity Ratio (DER) is still low.
"We really wanted to optimize the existing level. We're studying it in the form of commercial banks from Japan," Djaja said in Jakarta on Thursday night (02/09/2010).
Potentially one of the banks to lend is the Japan Bank for International Cooperation (JBIC). However, other banks that have submitted bids are Mizuho Bank, Ltd. and The Bank of Tokyo-Mitsubishi UFJ, Ltd..
"Mainly because he's kind of IFC JBIC Japanese version. But not yet be called a range, because we'll see you in the near future. Many factors, too, we'll see how great the needs of the project and which gives the best interest," he said.
"Interest rates in Yen it was already very low, so later on whether floating or fix is the same," added Djaja.
Signing of EPC contract has just conducted between PT Indonesia Chemical Alumina (PT ICA) with unincorporated consortium of PT Wijaya Karya (Persero) Tbk, Tsukishima Kikai Co., Ltd. and PT Nusantara Energi Abadi (Nusea) as the EPC contractor Tayan project. Projects worth U.S. $ 450 million is expected to begin commercial production in the first quarter-2014.
Tayan project would produce 300,000 tonnes per year CGA. Production output of 200,000 tons CGA SDK will be used as a substitute for CGA output from his factory in Yokohama. While CGA 100 000 tons will be sold in the Indonesian market.
Meanwhile, another ANTM projects, namely the development of bauxite ore processing plant into a commodity Smleter Grade Alumina (SGA), is currently finalizing the study. Expected plant capacity of 1 million tons per year ready-built in the first quarter of 2011 and start production in 2014.
Director of ANTM, Alwin Syah Loebis SGA states that the value of investment reached U.S. $ 1 billion. The Company also plans to work with partners from China, Hangzhou necromancer Group (HJG).
"For the NPI projects (Nickel Pig Iron) Mandiodo, still studying. The investments of about U.S. not $ 150 million. Capacity NPI 220 thousand tons and visibility study completed this year," said Alwin. (*)
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