Jakarta - PT Medco Energi Internasional Tbk (MEDC) obtained a loan facility of U.S. $ 120 million from Mitsubishi Corporation. The fund will be used to build an LNG plant with a capacity of 2 million metric tons in Banggai district, Central Sulawesi.
As quoted from the disclosure of company information submitted on the official website of the Indonesian Stock Exchange (IDX), Thursday (6/1/2011), the loan obtained by a subsidiary of Medco, PT Medco LNG Indonesia.
The loan berbungan Linor +3.7% per year with an interest in the extension of Libor +4.75% per annum. Interest will be paid per quarter and performed at the time of entering the repayment period.
Overall, the cost required to complete the project Donggi-Senoro LNG plant is U.S. $ 2.8 billion. For its construction, the company has formed a joint venture with PT Pertamina (Persero) and Mitsubishi.
Previously, the Assembly Commission said it has happened in unfair business competition in Donggi-Senoro project. For that, the Commission to punish all parties involved to pay a fine each for a total value of Rp 31 billion to be paid to the state treasury.
Medco and its subsidiary PT Medco E & P Tomori Sulawesi have to pay fines amounting to Rp 5 billion and Rp 1 billion.(*)
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