By Romel S. Gurky
IDX-listed PT Merdeka Battery Materials Tbk (IDX: MBMA), an integrated nickel mining firm with operations in Central and Southeast Sulawesi provinces, announced that its indirect subsidiary PT ESG New Energy Material has signed a single currency term facility worth up to US$490 million with three lenders.
MBMA said in a recent filing with the Jakarta Stock Exchange that the lenders involved in this agreement are Bangkok Bank Public Limited Company, PT Bank Mandiri Tbk and PT Bank Negara Indonesia Tbk.
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It added that this substantial loan is earmarked for various purposes, including the designing, engineering, building, construction, operation, and ownership of plants to produce mixed hydroxide precipitate (MHP) and the subscription of equity in a feed preparation plant (FPP).
ESG is engaged in the non-ferrous base metal manufacturing industry. MBMA through its subsidiary PT Merdeka Industri Anantha controls 55% interest in ESG. Other shareholders are GEM (Singapore) International Investment Pte Ltd (22.94%), New Horizon International Holding Ltd (20.98%) and GEM Hong Kong International Co Ltd (1.08%).
Editing by Reiner Simanjuntak
