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ICBC Indonesia contributes IDR 1 trillion to IDR 4 trillion syndicated loan for East Palapa Ring Package Fiber Optic Network Project
| Funder | PT Bank ICBC Indonesia |
|---|---|
| Recipient Organization | PT Palapa Timur Telematika, Tbk. (PTT) |
| Country | Indonesia |
| Start Date | Mar 29, 2017 |
| End Date | Nov 20, 2033 |
| Duration | 6,080 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 66416 |
Grant Description
ICBC contributions to IDR 4 trillion syndicated loan for East Palapa Ring Package Fiber Optic Network Project On March 29, 2017, ICBC Indonesia and PT Palapa Timur Telematics (PTT) — a special purpose vehicle and subsidiary of PT Mora Telematics Indonesia (Moratelindo) — signed an IDR 4.004 trillion (approximately US$300 million) syndicated loan agreement with five banks [including ICBC Indonesia, PT Bank BNI (Persero), Bank Papua, Bank Maluku Malut and Bank Sulselbar] for the East Palapa Ring Package Fiber Optic Network Project.
ICBC Indonesia contributed IDR 1 trillion to the loan syndicate.
The purpose of the IDR 5.13 trillion project was to extend the reach of a broadband communications system to the regions and provinces of East Nusa Tenggara, Maluku, Papua and West Papua (with a total network length of 8,400 km). Construction began in July 2017. The project was completed on October 14, 2019.
Staff Comments
- This project is also known as the Palapa Ring Broadband Project. The Indonesian project title is Proyek Palapa Ring Paket Timur.
- PTT is also known as PT Palapa Timur Telematika. Moratelindo is a private Indonesian company.
Sources & References
- Annual Report 2017
- Eastern Palapa Ring Project Secures $300m Loan From Five Banks
- Sindikasi BNI & 4 Bank Biayai Proyek Palapa Ring Paket Timur Rp 4 Triliun
- Palapa Ring’s eastern project to begin in July
- Palapa Ring Project (East Package) Finally Achieved Financial Close
- Palapa Ring Eastern Package
- Dentons HPRP represents a bank syndicate in financing of Palapa Ring Project East Package
- Indonesia Announces Completion of East Palapa Ring Project
- Cerita Proyek Palapa Ring Timur
- Lima Kali Kabel Serat Optik Terlindas Alat Berat
- Growing Fast with Innovation and Transformation
- Form 18-K Republic Of Indonesia Annual report for foreign governments and political subdivisions
- Expanding Networks. Enhancing Services
- Ownership Structure of PT Mora Telematika Indonesia
- PPP – PROJECT DIGEST
- National Strategic Projects Development 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 Palapa Timur Telematika, Tbk. (PTT)
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