Pertamina International Shipping (PIS), a unit of Indonesia’s state energy firm, has secured a $185 million syndicated loan to fund investment in its fleet and infrastructure, the company said.
The loan would be used to expand its fleet and upgrade a liquefied petroleum gas (LPG) terminal and is expected to boost the company’s revenue and profit this year, PIS director of finance Diah Kurniawati said in a statement.
The lenders include Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Financial Group Inc., Mizuho Bank Ltd, BTPN and Indonesian state banks, Bank Mandiri and BNI, the company said.
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PIS has announced the addition of two small LPG carriers with a capacity of 3,500 cubic metres each this year, which could be use to transport LPG, chemical cargoand ammonia for domestic and overseas markets.
Source: Reuters (Reporting by Bernadette Christina Munthe; Editing by Ed Davies)