JAKARTA (Yosefardi) – PT Well Harvest Winning Alumina Refinery (WHW), affiliated to PT Cita Mineral Investindo Tbk (CITA), had Tuesday (March 4) signed US$300 million loan facility agreement with 5 banks.
The loan commitment could be raised to up to US$400 million, used to fund alumina smelter project.
That five banks facilitating the loan are DBS Bank Limited, OCBC Limited, Bank OCBC NISP, Bank of China Limited, and Bank DBS Indonesia.
In October 2013, CITA, member of Harita Group, has secured loan facility commitment of US$100 million from DBS Bank Ltd and Overseas Chinese Banking Corporation Limited.
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).