Lender BRI Provides Rp 2.5t Loans to Coal Miner PTBA
Jakarta. State controlled lender Bank Rakyat Indonesia provided Rp 2.5 trillion ($187 million) worth of loans to state-controlled coal miner Bukit Asam, known as PTBA, to help fund the miner’s capital expenditure next year, a director at BRI said on Thursday (08/12).
Kuswiyoto, a director at BRI, said the loans comprise of $135 million worth of US-denominated loans and Rp 800 billion worth of rupiah denominated loans.
He said BRI offers US-denominated loan to help PTBA from currency fluctuation for various transactions in US dollar, including foreign exchange swap and foreign exchange forward for the miner’s operational as well as investment activities.
BRI sets aside its capex at Rp 5.8 trillion next year, PTBA corporate secretary Adib Ubaidillah said.
He said the loan will be used for investment to improve logistics to support mine operations.
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