THREE BANKS READY TO FINANCE TELKOM-3 SATELLITE

Jakarta, Jan 8 (ANTARA) - State telecommunications operator PT Telkom said it believes three state banks will be ready to extend a syndicated loan of US60 million to finance the construction and launch of Telkom-3 satellite which will cost US$200 million.
"I think the three state banks will be ready to finance up to 30 percent of the cost while the rest will come from the company's internal funding sources," PT Telkom President Director Rinaldi Firmansyah said at the Office of State Enterprises Minister here on Thursday.
The three state banks are Bank Negara Indonesia (BNI), Bank Mandiri and Bank Rakyat Indonesia (BRI).
Rinaldi said part of the funds would be obtained from state banks which had so far been PT Telkom's traditional work partners in financing its projects.
The Telkom-3 satellite which will have 48 units of transponder is expected to be completed and launched in 2011.
Telkom-1 satellite with 36 units of transponder and Telkom-2 satellite with 24 units of transponder are currently in services.
Rinaldi said four foreign companies had made a bid for the construction of Telkom-3 satellite. They are Loral Space System and Orbital Science of the United States, Retchesnev of Russia, and Thales Alenia Space of France.
"We have just concluded the tender and named two of the four bidders as winners," he said.
But he stopped short of revealing the names of the companies for confidential reason.
But a Telkom official who spoke on condition of anonymity said one of the tender winners was Retchesnev which made a bid of Rp2 trillion.