Jakarta (ANTARA News) - Bank Internasional Indonesia (BII) is cooperating with Bank Niaga and Bank Ekspor Indonesia in providing a syndicated loan of US$24 million to PT Jaya Samudra Karunia (PT JSK) shipping.
PT JSK will use the syndicated loan to purchase a bulk freighter of Panamax type with a capacity of transporting 60,000 tons of bulk goods, which would support the development of the coal industry in Indonesia.
"The syndicated credit facility constitutes an effort to support the government`s program in the sea transportation and infrastructure sectors, particularly in the building of coal-fired power plants," Corporate Director of BII Dira K Mochtar said in a press statement made available to ANTARA here on Friday.
He said that shipbuilding and shipping industries in the country would continue to grow in line with the development of commodity industries.
He said that BII`s financing of the shipping industry up to the end of 2007 has amounted to Rp1.3 trillion. "And we will continue to develop it," Dira K Mochtar said.
In the meantime, PT JSK`s Chief Executive Officer Dennis SK Jan said that shipbuilding and shipping industries in Indonesia were in dire need for financial support from the banking sector.
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