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Aneka Tambang of Indonesia Seeks $2.6 Billion for Metal Projects
Edited by : AL CIRCLE
2 min read
Aneka Tambang, the state-controlled gold and nickel miner, is seeking $2.6 billion in investments through 2014 to finance various projects.
The Jakarta-based miner also known as Antam is mulling several options including selling bonds, bank loans or export credit facilities.
“External funding accounted for approximately 65 percent of the investment value of Antam’s multi-projects with total costs of $4 billion,” the miner’s president director, Alwinsyah Loebis, said on Thursday.
Antam is currently building several projects, including a chemical-grade alumina plant in Tayan, West Kalimantan, a ferronickel plant in East Halmahera, North Maluku, and a smelter-grade alumina plant in Mempawah, West Kalimantan. It also has a ferronickel plant in Pomalaa and a nickel pig iron project in Mandiodo, both in Southeast Sulawesi.
Antam has yet to issue Rp 1 trillion in bonds, which was part of a Rp 4 trillion bond offering that was planned for 2011, Alwinsyah said. He said the company might also issue global bonds in an effort to tap the global market for funds. That, however, would depend on market conditions, he added.
Aneka is also looking at internal cash to finance the projects. It currently has about Rp 5 trillion on hand. The company is also exploring export credit facilities from Europe and Asia.
Jaya Tambunan, Antam’s finance director, said the company was talking with several foreign institutions about project financing.
The chemical-grade alumina plant project in Tayan is estimated to cost about $450 million. Japan Bank for International Cooperation and a consortium of other Japanese banks are expected to provide 65 percent of the financing. The remaining 35 percent would come from capital injections from the shareholders of Indonesia Chemical Alumina, which is 80 percent controlled by Antam.
The Jakarta-based miner also known as Antam is mulling several options including selling bonds, bank loans or export credit facilities.
“External funding accounted for approximately 65 percent of the investment value of Antam’s multi-projects with total costs of $4 billion,” the miner’s president director, Alwinsyah Loebis, said on Thursday.
Antam is currently building several projects, including a chemical-grade alumina plant in Tayan, West Kalimantan, a ferronickel plant in East Halmahera, North Maluku, and a smelter-grade alumina plant in Mempawah, West Kalimantan. It also has a ferronickel plant in Pomalaa and a nickel pig iron project in Mandiodo, both in Southeast Sulawesi.
Antam has yet to issue Rp 1 trillion in bonds, which was part of a Rp 4 trillion bond offering that was planned for 2011, Alwinsyah said. He said the company might also issue global bonds in an effort to tap the global market for funds. That, however, would depend on market conditions, he added.
Aneka is also looking at internal cash to finance the projects. It currently has about Rp 5 trillion on hand. The company is also exploring export credit facilities from Europe and Asia.
Jaya Tambunan, Antam’s finance director, said the company was talking with several foreign institutions about project financing.
The chemical-grade alumina plant project in Tayan is estimated to cost about $450 million. Japan Bank for International Cooperation and a consortium of other Japanese banks are expected to provide 65 percent of the financing. The remaining 35 percent would come from capital injections from the shareholders of Indonesia Chemical Alumina, which is 80 percent controlled by Antam.
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