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JAKARTA: Three state-owned enterprises (PT Telkom, PT Telkomsel, and state port operator PT Pelindo II) will have US$920 million in foreign commercial loan fund (around IDR8.4 trillion) to expand service infrastructure.
"Our company will use around US$800 million of the fund as capital expenditure in expanding and empowering Telkomsel's networks," said Financial Director of PT Telkomsel Triwahyusari to Bisnis yesterday.
In details, Tri exposed the loan facility was gained through export credit agencies, namely KKN, Finvera, and Sinosure.
General Manager of Corporate Communication at Telkomsel Ricardo Indra said the loan would be disbursed in the next two years. "This will start the next semester."
On Monday night, a limited coordination meeting was held, which was followed by Coordinating Minister for Economic Affairs Hatta Rajasa, Minister of Finance Agus D.W. Martowardojo, Acting BI Governor Darmin Nasution, State Minister for SOEs Mustafa Abubakar, State Minister/Head of the National Development Planning Agency (Bappenas) Armida S Alisjahbana, Minister of Transportation Freddy Numberi, and Minister of Communication and Informatics Tifatul Sembiring.
The meeting approved foreign commercial loans for PT Telkomsel (US$800 million), PT Pelindo II (US$70 million), and PT Telkom (US$50 million).
When asked yesterday, Hatta said the three SOEs got permits since their project funding proposals had met the criteria and principle of prudence outlined by the government through the Bappenas.
Palapa Ring
Hatta added Telkom would use the foreign commercial loan fund to finance the Palapa Ring project, which develops optic fiber nationwide. The success of the project was expected to make inter-regional cost of telecommunication cheaper.
In the meantime, Telkomsel would use the fund to develop supporting telecommunication infrastructures.
R.J.Lino, President Director of Pelindo II, said the operator got a US$70 loan from the syndication of IFC (International Finance Corporation)-Hong Kong and Shanghai Banking Corporation (HSBC) to develop the Jakarta International Container Terminal (JICT).
According to him, the commercial loan would be allocated to increase the capacity of the JICT to three million twenty-foot equivalent units (TEUs), rising 50% from the current capacity of 2 million TEUs.
"The loan will be used to increase the capacity of the JICT by 1 million TEUs," he told Bisnis yesterday.
Vice President Public and Marketing Communication of Telkom Eddy Kurnia confirmed the government had permitted Telkom to use foreign commercial loans. (Bisnis/roy/agi/fim/hwi/trd)
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http://www.bisnis.com/pls/bisnis/bisnis.cetak?inw_id=739766
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