ID :
26048
Wed, 10/22/2008 - 17:55
Auther :
Shortlink :
https://www.oananews.org//node/26048
The shortlink copeid
FAJAR SURYA WISESA SECURES SYNDICATED LOAN OF $70 MILLION
Jakarta, Oct 22 (ANTARA) - Paper producer PT Fajar Surya Wisesa (FSW) has secured a syndicated loan of US$70 million from domestic and foreign banks.
"The loan will be used to buy a new paper making machine with a production capacity of 300,000 tons. With the business expansion, our production capacity will increase 43 percent to 1 million tons per year," FSW Finance Director Hadi Rebowo Ongkowidjojo said on Wednesday.
He expressed hope that the project would start in the fourth quarter of 2008 and be completed in the second quarter of 2010 when the new paper making machine starts operating.
The loan showed the banking industry's recognition of the company's reputation amidst the current global financial crisis, he said.
He said the syndicated loan was coordinated by the Hong Kong and Shanghai Banking Corporation Limited (HSBC) and the United Overseas Bank Limited (UOB). The loan is payable in five years' time.
The domestic banks involved in the provision of syndicated loan are Bank Mandiri, Indonesia's biggest lender, and Bank Rakyat Indonesia (BRI), the country's number four lender.
FSW is a producer of industrial/package paper. Its product is marketed either at home or abroad, including China, South Korea, the Middle East and other Southeast Asian nations.
"The loan will be used to buy a new paper making machine with a production capacity of 300,000 tons. With the business expansion, our production capacity will increase 43 percent to 1 million tons per year," FSW Finance Director Hadi Rebowo Ongkowidjojo said on Wednesday.
He expressed hope that the project would start in the fourth quarter of 2008 and be completed in the second quarter of 2010 when the new paper making machine starts operating.
The loan showed the banking industry's recognition of the company's reputation amidst the current global financial crisis, he said.
He said the syndicated loan was coordinated by the Hong Kong and Shanghai Banking Corporation Limited (HSBC) and the United Overseas Bank Limited (UOB). The loan is payable in five years' time.
The domestic banks involved in the provision of syndicated loan are Bank Mandiri, Indonesia's biggest lender, and Bank Rakyat Indonesia (BRI), the country's number four lender.
FSW is a producer of industrial/package paper. Its product is marketed either at home or abroad, including China, South Korea, the Middle East and other Southeast Asian nations.
