RP 3.5 TRILLION TO DEVELOP ANTAM FERRONICKEL PROJECT

[CATEGORY: MINING]

PT Aneka Tambang Tbk (ANTM) will look for sources of funding of Rp 3.5 trillion to finance business development, building a new ferronickel plant phase II in East Halmahera. This is expressed by Antam Finance Director Dimas Wikan Pramudhito.

He said the phase I of ferronickel plant with a capacity of 13,500 tonnes of nickel in ferronickel per year has been financed by a rights issue worth Rp 5.39 trillion. "The phase I is already secure (funding), in the future we would like to have a second line," said Dimas.

According to him, the production capacity for the planned phase two almost identical to the existing one. So from the funding is not much different than before.

"For the construction of its smelter only need Rp 3.5 trillion, (funding) if the banks are generally first talks with creditor banks and state-owned banks has been agreed," he said.

In addition to the funds for the construction of the smelter, the company also needs funds for infrastructure such as employee housing, warehouses, power plants and others.

Antam needed funds Rp 3.5 Trillion to Develop Ferronickel Business Luhut said that in the discussion of the Regulation Revision 1/2014 also gives an opportunity of low grade ore smelter exported because not absorbed domestically. "Nickel which implies 1.8 again we count, because in the country can not be processed, then we consider to be exported," he said.

Reference :

1.     Antam Finance Director Dimas Wikan Pramudhito.

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