JAKARTA (Yosefardi) – PT Panasia Indo Resources Tbk (HDTX) will provide corporate guarantee for loan facility of US$30 million given to its unit PT Sinar Tambang Arthalestari.
The loan, provided by Credit Suisse, will be used to finance the cement mill construction, located in Banyumas regency, Central Java province.
The company earlier said the cement mill has been under construction with investment cost reaching US$257 million, of which US$77.1 million has been spent. The construction is targeted to complete in May 2015.
HDTX was traded flat Rp415 per share this afternoon, falling 56% from its peak year to date.