PT Bank Mandiri Tbk will form a consortium of state-owned banks to obtain a target loans amounting to IDR 8,4 trillion to support the construction of three monorail project.
"Bank Mandiri will hold PT Mandiri Securitas to form a consortium of state-owned banks in the financing of this project," said Director of Corporate Banking of Bank Mandiri, Fransisca Nelwan Mok, following the signing of a preliminary agreement launching Mock Up Monorail, in Madiun, East Java, on Monday. According to her, the proposed banking consortium will be approved by the project implementing consortium consisting of PT Bank Mandiri as leader of a consortium of lending banks, PT Adhi Karya, PT INKA, PT LEN, PT Angkasa Pura II, PT Pelindo, PT Telkom, PT Jasa Marga.
"First, We have to form the agreement from the internal and this is still under discussion and it could be multi-year, not in a year's time," she said.
In line with Fransisca, President Director of PT Adhi Karya, Kiswo Darmawan said that 30 percent of the source of funding comes from internal SOEs consortium and 70 percent comes from SOEs bank loans. "The funds will come from cash investments and loans companies, with each serving 30 percent and 70 percent," he said.
The Three monorail project to be built are Jakarta Link Transportation (JLT) in the Greater Jakarta area, Automatic Container Transporter (ACT) in Tanjung Perak, Surabaya and Automatic People Mover (APM) at Soekarno-Hatta Airport. For monorail that will be operated in the Greater Jakarta area requires a fund of IDR 7 trillion. As for the APM and the ACT require funds amounting to IDR 2,5 trillion each.
Indonesia Market Summaries, 6 May 2013