JAKARTA (Yosefardi) – PT Surya Esa Perkasa Tbk (ESSA) had in 27 November 2013 signed shareholders loan agreement with its unit PT Panca Amara Utama, under which ESSA provides loan of US$25 million to Panca Amara.
The loan will be used to finance the development of ammonia project. This transaction is considered as a material transaction, representing 42.65% of ESSA’s equity as of June 2013.
Panca Amara is now building US$750 million ammonia plant in Sulawesi with financing from World Bank’s investment arm International Finance Corporation (IFC).
Surya Perkasa has recently been involved in a ‘dispute’ with Tempo media group related to reports surrounding bribery cases implicating the disgracefully dismissed SKK Migas chief Rudi Rubiandini.