PT Aneka Tambang Tbk (Antam) has been planning to get US$50 million - US$70 million loan to finance the project of Chemical Grade Alumina Tayan (CGA) with the total investment of US$250 million.
In the meantime, Japan Bank for International Cooperation (JBIC) has committed to finance 60% of the investment if the feasibility study concludes that the business is prospective.
The Finance Director of Antam Kurniadi Atmosasmito said that the feasibility study should have been concluded next month.
"We have asked ANZ to review the feasibility study of the project and it should be finished next March. If the project is prospective, we will start the project next year," he said to me when T meet him last week.
Antam has established a joint venture with Showadenco and Marubeni of Japan and Malaysian Smelting Corporation to develop the project of CGA in Tayan of West Kalimantan.
The deal has been signed by the four parties on March 31 2006 with the composition of ownership of Antam 49%, Showadenco and Marubeni 36%, and Malaysian Smelting Corporation 15%.
Tuesday, February 27, 2007
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