Wednesday, August 22, 2007

Antam Gets US$1.5 Billion from 3 Banks

PT Aneka Tambang Tbk (Antam) has secured loan commitment of US$1.5 billion from PT Bank Mandiri Tbk, PT Bank Central Asia Tbk, and PT Bank Negara Indonesia Tbk.
The company also has got new partner, Tien Shan of China, replacing Xinfa, to develop Bintan Smelter Grade Alumina with the investment of US$250 million.

Antam has been developing Bintan Smelter to increase the added value of nickel and bauxite produced by the company. The unit will be active in 2010 with the capacity of 400,000 tons per annum. But Bimo said the unit will be in operation in 2013.

Antam will cooperate with United Company Rusal of Rusia at Tayan of Kalimantan to develop aluminum smelter. The MOU will be signed during the visit of Rusia President Vladimir Putin to Indonesia on September 6. The signing will be before two presidents of the two countries.

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