Overview

ICBC Indonesia provides IDR 100 billion loan for Cement Plant Equipment and Machinery Acquisition Project

Commitments (Constant USD, 2023)$8,196,541

Commitment Year•2016Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Oct 21, 2016

Last repayment (originally scheduled): Dec 30, 2021

Geospatial footprint

Map overview

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ICBC provided a loan for a Cement Plant Equipment and Machinery Acquisition Project in Cikupa, Indonesia. More detailed locational information can be found at: https://www.openstreetmap.org/way/708297960

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

PT Bank ICBC Indonesia

Receiving agencies

State-owned companies

PT Semen Indonesia Beton

Implementing agencies

State-owned companies

PT Semen Indonesia Beton

Collateral providers

State-owned companies

PT Semen Indonesia Beton

Loan desecription

ICBC Indonesia provides IDR 100 billion loan for Cement Plant Equipment and Machinery Acquisition Project

Grant element•0%Interest rate (t₀)•9.9%Interest type•Fixed Interest RateMaturity•6 years

Collateral

The loan was secured with batching plants, vehicles, and new heavy equipment that were to be purchased by the borrower (with minimum value of 125% of the limit PTI).

Narrative

Full Description

Project narrative

On October 21, 2016, ICBC Indonesia and PT Semen Indonesia Beton (SIB) signed an IDR 100 billion fixed loan on installment (PTI) credit facility agreement. The borrower was to use the loan proceeds to finance the acquisition of heavy equipment, vehicles, machinery, and ancillary equipment for the batching plants. The facility has an availability period of 6 months, a maturity of 72 months (6 years), and an interest rate of 9.9%. The loan was collateralized with the batching plants, vehicles, and new heavy equipment that were to be purchased by the borrower (with minimum value of 125% of the limit PTI). The outstanding balances of loan as of March 31, 2018 and December 31, 2017 were IDR 97,197,544 and IDR 93,234,920, respectively.

Staff comments

1. This project is also known as the Batching Plant Construction Project. PT . 2. Semen Indonesia Beton, which is a subsidiary of an Indonesian state-owned enterprise called PT. Semen Indonesia (Persero) Tbk, is a cement company.