BNI to Lead Syndication on Cement Project of Tonasa V

BNI to Lead Syndication on Cement Project of Tonasa V
Published: 03 November 2006

PT Bank Negara Indonesia Tbk is ready to lead the syndication to finance the development of cement works by Semen Tonasa V with the total investment of IDR2.6 trillion. 
The commitment was expressed on the memorandum of understanding signed by the President Director of BNI Sigit Pramono and the President Director of PT Semen Tonasa Syattar Taba, yesterday. 
A Director of BNI Bien Subiantoro said to realize the plan, the bank has taken the initiative to sign the commitment, in a bid to be ahead of other banks that are also interested in the project. 
"We are happy as the management of Semen Tonasa has [positively] responded so that we can realize the MOU this day," he said after the signing of the MOU in Pangkep, South Sulawesi, yesterday. 
He added that the commitment is not only for the development of cement facility but also for the supporting projects. 
Bien declined to mention the size of credit for Semen Tonasa V as the management of the cement company is calculating need on the credit.