Indonesia’s Mandiri to lend Semen Gresik US$460m

Indonesia’s Mandiri to lend Semen Gresik US$460m
Published: 24 April 2009

PT Mandiri Sekuritas said it will arrange a loan of more than IDR5 trillion (US$460 million) for PT Semen Gresik, which needs funds to build a new cement plant.

Mandiri Sekuritas Managing Director Kartika Wirjoatmodjo said the securities company will team up with its parent company state lender PT Bank Mandiri to arrange the loan for the country’s largest cement maker.

Earlier Semen Gresik President Dwi Soetjipto said the state cement producer would invest US$784m to expand the production capacity of its subsidiary Semen Tonasa in South Sulawesi.