PT Bakrie & Brothers Tbk is going to negotiate vendor financing worth US$550 million with Daewoo to develop Kalimantan-Java pipeline networks.
The company also prepares an option to issue yankee bonds worth US$550 million if the negotiation fails.
Financial Director of Bakrie & Brothers Yuanita Rohali revealed the loan value was worth 435,000 tons of steel needed to realized the pipeline networks
"We are waiting for offer from our partner, Daewoo. The financing will be customized with our cash flow for the project, which will start flowing in 2011," Yuanita said last weekend.
It meant, added Yuanita, the financing was expected to have at least a five-year tenure.
In July 2006, the Oil and Gas Downstream Regulatory Agency (BPH Migas) established Bakrie & Brothers as the winner, beating PGN and PT Barata Indonesia, of the special tender for the US$1.2 billion's worth East Kalimantan-Central Java gas pipeline.
Tuesday, September 25, 2007
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