JAKARTA. PT Energy Transporter Indonesia (ETI), a subsidiary of PT Transcoal Pacific Tbk (TCPI), has acquired a credit facility worth IDR 128.5 billion.

The credit facility consists of Investment Credit I of IDR 64 billion and Investment Credit II of IDR 64.5 billion. The Investment Credit I has a tenor of 39 month starting from the signing date, while the Investment Credit II has a tenor of 77 months.

The Investment Credit I will be spent on refinancing 5 units of tugboats and 4 units of barges. Those vessels will be submitted as the guarantee for this credit.

Meanwhile, the Investment Credit II will be used to fund 1 unit of floating crane, which will also be submitted as guarantee for the credit facility obtained by ETI.

Bintang Septo Drestanto, Director of TCPI, said that the credit facility is provided by one of the state-owned banks or enterprises. However, the name of this institution is not publicly disclosed.

“We hope that with the provision and the utilisation of this credit facility, we will be able to expand the business and increase the revenue,” Drestato further explained in the information disclosure in Indonesia Stock Exchange (IDX). (KR/ZH)