JAKARTA (Yosefardi) – International Finance Corporation (IFC), member of World Bank, will loan US$799 million, equivalent Rp9.2 trillion to PT Panca Amara Utama, subsidiary of PT Surya Esa Perkasa Tbk (ESSA).
The loan will be used to fund ammonia plant in Luwuk, Central Sulawesi. The project will enter its construction.
ESSA has appointed PT Inti Karya Persada Tehnik and Toyo Engineering as contractor for engineering, procurement, and construction (EPC) which values for US$500-550 million.
ESSA also targets to complete the construction of the liquefied petroleum gas (LPG) refinery this year. The project costs US$11 million.