ID :
14497
Fri, 08/01/2008 - 07:18
Auther :
Shortlink :
http://m.oananews.org//node/14497
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KRAKATAU STEEL GETS BNI CREDIT WORTH RP1.46 TRILLION
Jakarta, July 31 (ANTARA)- State owned steel maker PT Krakatau Steel has obtained a credit facility for a non-cash loan from Bank BNI worth US$1.46 trillion, consisting of US$75 million (about Rp712 billion) and Rp 750 billion.
The credit was officially handed over under a credit agreement signed by Khrisna R Suparto, BNI's corporate director and Fazwa Bujang, PT Krakatau Steel's president director, here on Thursday.
The credit indicated that the steel industry is a very potential business in line with the world's demands for steel, Khrisna said.
The credit facility consists of letter of credit (L/C) on import ceiling, standby L/C, including a bank guarantee.
The one-year credit facility would be used to buy raw materials, supporting materials and spareparts in a bid to meet increasing demans for steel on the domestic market.
PT Krakatau Steel sells 85 percent of its products for the domestic market and the rest for the export market, Khrisna added.
The credit was officially handed over under a credit agreement signed by Khrisna R Suparto, BNI's corporate director and Fazwa Bujang, PT Krakatau Steel's president director, here on Thursday.
The credit indicated that the steel industry is a very potential business in line with the world's demands for steel, Khrisna said.
The credit facility consists of letter of credit (L/C) on import ceiling, standby L/C, including a bank guarantee.
The one-year credit facility would be used to buy raw materials, supporting materials and spareparts in a bid to meet increasing demans for steel on the domestic market.
PT Krakatau Steel sells 85 percent of its products for the domestic market and the rest for the export market, Khrisna added.
