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ICBC Indonesia provides IDR 102 billion loan for East Serang Water Processing Plant Construction Project
| Funder | PT Bank ICBC Indonesia |
|---|---|
| Recipient Organization | PT Sarana Catur Tirta Keola (SCTK) |
| Country | Indonesia |
| Start Date | Apr 15, 2015 |
| End Date | Jun 26, 2029 |
| Duration | 5,186 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 66272 |
Grant Description
ICBC Indonesia provides IDR 102 billion loan for East Serang Water Processing Plant Construction Project On April 15, 2015, ICBC Indonesia and PT Sarana Catur Tirta Keola (SCTK) — a special purpose vehicle — signed an IDR 102 billion loan agreement for the East Serang Water Processing Plant Construction Project.
The proceeds of the loan were to be used by the borrower to finance approximately 70% of the total cost of the IDR 146.7 billion East Serang Water Processing Plant Construction Project.
The purpose of the project is to construct a water processing plant that is capable of meeting the clean water supply needs of industrial and business customers in East Serang. Construction was expected to reach completion in 2017. The remainder of the financing is provided by SCTK.
Staff Comments
- SCTK is a water treatment company owned by PT Potum Mundi Infrastructure, which is a subsidiary of PT Nusantara Infrastructure Tbk.
- The shareholders of PT Nusantara Infrastructure Tbk are PT Metro Pacific Tollways Indonesia (74.65 percent), PT Indonesia Infrastructure Finance (10.00 percent), and public (15.35 percent).
- PT Metro Pacific Tollways Indonesia is a wholly owned subsidiary of Metro Pacific Investments Corporation, which is a Philippine-based unit investment holding company of First Pacific Company Limited through Metro Pacific Holdings, Inc.
Sources & References
- Annual Report 2015
- Laporan Tahunan 2015 Annual Report
- PT Nusantara Infrastructure Tbk dan entitas anaknya/and its subsidiaries Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
PT Sarana Catur Tirta Keola (SCTK)
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