JAKARTA: PT Tambang Coal Bukit Asam Tbk (PT BA) to explore bank loans amount U.S. $ 272 million to fund the addition of the portion of ownership in PT Bukit Asam Transpacific Railway.
Director of PTBA Sukrisno said the company would increase ownership in the Bukit Asam Transpacific Railway (BATR) from the current 10% to 30%.
"The number who would we look for from the bank at 85% of the total funds needed to increase stake in BATR. Shares we're buying is shares owned by the Rajawali Corporations, "he said, today.
The capital required by BATR to build 308 kilometers of railway lines of U.S. $ 1.6 billion. The total funding requirement PTBA to acquire 20% stake BATR U.S. $ 320 million.
"Currently, we are still preparing the plan. Many banks that expressed interest in financing the funding we need, "said Sukrisno.
Apart from PTBA, the other shareholders in China Railway Engineering BATR is 10% and 80% Rajawali Corporation.
Railway line was built along the 308 kilometers it connects to the Bangko Central Lampung, specifically for the transport of coal.
Recently, BATR obtain credit facilities from a view of Chinese financial institutions with Synopec guarantor in order to complete construction of the railway.
In addition, the PTBA to boost production to over 20 million tons per year if the railway is operating. (*)
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