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Indonesia : SEMEN INDONESIA declares allocation of loan to GRESIK, INDONESIA

June 13, 2014

Semen Indonesia is aiming to deliver a loan to subsidiary Semen Gresik to partly finance the latter s new cement plant in Central Java.

On Monday, the loan agreement has been signed, which values to IDR5.07trn when taking interest into account.

Semen Gresik is building an 8000tpd greenfield works located just outside the city of Rembang in the northeastern part of central Java.

The new facility is set to start operation in 2016. Earlier, Semen Gresik secured a letter of credit (L/C) facility amounts to IDR1.4trn from Bank Mandiri in March. Moreover, it helps finance the construction of the Rembang facility.

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Source: TendersInfo (India)

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