PT Kereta Api, Indonesia railway company, raise IDR5 trilion loan from PT Bank Negara Indonesia Tbk and PT Bank Rakyat Indonesia Tbk.
CEO PT KA Ignasius Jonan said the company plans to use the fund for support business expansion in freight train shipping in Java and Sumatera.
"The tenure for the loan is 10 years with grace period 3 years," he added, last week.
The Company and PT Tambang Batubara Bukit Asam Tbk plans to raise its annual capacity to transfer coal from Tanjung Enim to the seaport to up to 20 million tons by 2014.
The project will cost US$734 million in capital expenditure to develop infrastructure such as railways, locomotives, railway coaches, bridges and roadways.
The project will include fixing the existing 416 kilometer-long railway connecting Tanjung Enim to Tarahan in Lampung and the 16 kilometers lane from Tanjung Enim to Palembang, South Sumatra. In cooperation with China Railways Engineering and PT Trans Pacific, it also plans to develop a new 308 kilometers railway specially dedicated for the transportation of coal from Tanjum Enim to Tarahan in Lampung.
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