[Kabar-indonesia] Bakrie & Brothers Eye US$840m Indonesia Pipeline Loan: Paper

[JoyoNews at aol.com]

also: Indonesia's Bakrie & Brothers Needs 
US$840 MLN for Gas Pipeline Project

Bakrie & Brothers eye US$840m Indonesia pipeline loan-paper

JAKARTA, Oct 11 (Reuters) - Indonesia's PT Bakrie & Brothers Tbk is seeking 
US$840 million of loans to finance a $1.26 billion gas pipeline between 
Kalimantan 
and Central Java, the Investor Daily newspaper reported on Wednesday.

The paper quoted the firm's finance director Yuanita Rohali as saying the 
loans 
would be drawn gradually over the next three years until 2009.

"The loan agreement might be signed within the next six months," Rohali told 
the paper, declining to name potential creditors.

Barkie & Brothers, a diversified company controlled by the family of 
Indonesia's 
chief social welfare minister Aburizal Bakrie, won the tender for the gas 
pipeline projects in July.

The company, with a market capitalisation of $439.5 million, has seen its 
share 
price climb nearly 21 percent this year, although still underperforming the 
Jakarta index which has gained more than a third. 

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Indonesia's Bakrie & Brothers Needs US$840 MLN for Gas Pipeline Project

JAKARTA, Oct 11 Asia Pulse/Antara - Publicly listed steel maker PT Bakrie 
& Brothers (B&B) needs a loan of US$840 million to finance its US$1.26 
billion 
gas pipeline project.

The company has won a tender to build a submarine pipeline between East 
Kalimantan -Central Java to supply gas to Java.

Currently B&B is negotiating loans with a number of financial agencies, 
export 
credit agencies and engineering procurement and construction companies.

The loan will be disbursed in phases over three years, B&B Finance Director 
Yuanita Rohali said.

Yuanita said B&B will put up US$360 million in internal funds for the project.

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Joyo Indonesia News Service
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