Semen Indonesia gets syndicated loan for Indarung VI plant

JAKARTA – Cement producer PT Semen Indonesia (Persero) Tbk (SMGR) gets syndicated loan of Rp1.9 trillion from several national banks led by PT Bank Mandiri Tbk, planning to support construction of cement plant Indarung VI in West Sumatera.

The loan facility with 3 year grace period and 5 year installment will have competitive interest rate with reference of 3-month time deposit plus 3%, or around 9% to 9.5%.

The 3-million ton capacity cement plant with investment of Rp3 trillion will be funded 60% by the syndicated loan, while the remaining funding source will come from internal cash. The leader of national cement with current market share of 43.8% will start piling of the new plant this month and commercial operation in 2016.

The state-controlled cement producer booked 11.43% growth in revenue to Rp6.17 trillion during the first three months of the year, with sales volume increase of 3.5% to 6.2 million tons. At the same time, it posted net profit of Rp1.3 trillion, rising 5.3% from that of the earlier year period.

Source: PT Semen Indonesia (Persero) Tbk (SMGR)
Director of Finance Ahyanizzaman.

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