JAKARTA – PT Cita Mineral Investindo Tbk (CITA) will grant a corporate guarantee for its associate’s loan facility worth IDR 3.8 trillion. Said facility is equal to 88.81% of CITA’s equity until September 2022 of IDR 4.28 trillion.

Yusak Lumban Pardede Director of Cita Mineral Investindo, explained that the amount of guarantee is decided based on its portions in di PT Kalimantan Aluminium Industry (KAI) and PT Kaltara Power Indonesia (KPI). “The company will ask for approval of shareholders in the Extraordinary General Shareholders Meeting on March 31, 2023,” he said in the information disclosure quoted Thursday (23/2).

KAI has issued and paid-up capital of IDR 3.74 trillion with shareholders consisting of PT Adaro Indo Alumunium (AIA) of 65%, Aumay Mining Pte Ltd of 22.50%, and CITA of 12.5%.

On the other hand, KPI records total issued and paid-up capital of IDR 3.38 trillion. Its shareholders are PT Adaro Power (AP) of 89.85%, CITA of 10.14%, and KAI of 0.0043%.

KAI and KPI’s loan facility was obtained from a syndicate of banks. The facility will be used for the construction of an aluminium smelting plant and its supporting infrastructures. The period of the loan payment is set to eight to ten years. (LK/ZH)