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ICBC Indonesia provides IDR 100 billion loan for Cement Plant Equipment and Machinery Acquisition Project
| Funder | PT Bank ICBC Indonesia |
|---|---|
| Recipient Organization | PT Semen Indonesia Beton |
| Country | Indonesia |
| Start Date | Oct 21, 2016 |
| End Date | Apr 03, 2028 |
| Duration | 4,182 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 66273 |
Grant Description
ICBC Indonesia provides IDR 100 billion loan for Cement Plant Equipment and Machinery Acquisition Project On October 21, 2016, ICBC Indonesia and PT Semen Indonesia Beton (SIB) signed an IDR 100 billion fixed loan on installment (PTI) credit facility agreement.
The borrower was to use the loan proceeds to finance the acquisition of heavy equipment, vehicles, machinery, and ancillary equipment for the batching plants. The facility has an availability period of 6 months, a maturity of 72 months (6-years), and an interest rate of 9.9%.
The loan was collateralized with the batching plants, vehicles, and new heavy equipment that were to be purchased by the borrower (with minimum value of 125% of the limit PTI).
The outstanding balances of loan as of March 31, 2018 and December 31, 2017 were IDR 97,197,544 and IDR 93,234,920, respectively.
Staff Comments
- This project is also known as the Batching Plant Construction Project. PT .
- Semen Indonesia Beton, which is a subsidiary of an Indonesian state-owned enterprise called PT. Semen Indonesia (Persero) Tbk, is a cement company.
Sources & References
- SUPPORTING AND SERVICING INDONESIA ECONOMY
- CONSOLIDATED FINANCIAL STATEMENTS
- PT SEMEN INDONESIA (PERSERO) Tbk. DAN ENTITAS ANAK / AND ITS SUBSIDARIES LAPORAN KEUANGAN KONSOLIDASIAN CONSOLIDATED FINANCIAL STATEMENT
- Winning the Market through Transformation 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 Semen Indonesia Beton
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