PT Nusantara Infrastructure Tbk, one of the Indonesia’s largest listed builders, plans to construct sea ports this year as part of its US$250 million investment expansion in water projects.
The company targets cities with populations of more than 1.5 million people, indicating that metropolises on Java and Sumatra islands top the list.
The company is currently researching numerous potential locations in Indonesia, which includes underused property locations, but refused to reveal more details about the plans.
The Indonesian government set Rp 168.1 trillion in the state budget for infrastructure for 2012, up 19 percent from this year, which is set at Rp 150.9 trillion. Nusantara is also bidding for a public-private partnership project to build a sea port in Kalibaru, North Jakarta. The project is valued at up to IDR11.7 trillion.
On Monday, the company gained shareholders’ approval to refinance a bank loan amounting to IDR750 billion, so that it can take advantage of low borrowing costs. The company moved its eight-year bank loan, used for three subsidiaries, from PT Bank Mega Tbk to PT Bank Central Asia Tbk at a rate lower than the current 13 percent.
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