JAKARTA (Yosefardi) – PT Cita Mineral Investindo Tbk (CITA), member of Harita Group, has secured loan facility commitment of US$100 million from DBS Bank Ltd and Overseas Chinese Banking Corporation Limited.
CITA and its units – PT Harita Prima Abadi Mineral, PT Karya Utama Tambangjaya, and PT Sandai Inti Jaya Tambang had signed loan agreement.
The loan will be used to fund working capital and investment, and to refinance the existing loan facility.
Harita Group, controlled by Lim family, builds bauxite smelter in Ketapang, West Kalimantan, which cost US$1 billion, equivalent Rp10 trillion.
The smelter will have capacity of 2 million tons per year, targeted to commence its production by mid of 2015. The smelter will process bauxite into aluminium, supplied to PT Indonesia Asahan Aluminimum (Inalum).