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ABM Subsidiary Secured US$ 150 Million Financing to Develop Coal Infrastructure in Aceh


Jakarta, March 14, 2013 – PT Reswara Minergi Hartama and its subsidiaries (Reswara Group), which are sub-units of PT ABM Investama Tbk. (IDX Code: ABMM), an integrated energy solution provider company, secured financing of US$150 million from Qatar National Bank (QNB), PT Bank QNB Kesawan Tbk (QNBK) and Indonesian Export Bank (Indonesia Eximbank). Witnessed by the President Director of PT ABM Investama Tbk. (ABM) Andi Djajanegara, the signing of loan agreement is conducted today by Board of Directors of Reswara Group led by Harry Asmar as President Director of PT Reswara Minergi Hartama (Reswara), with representatives from QNBK and Indonesia Eximbank. 

“The US$150 million loan will mainly be used to complement the financing for infrastructure of the coal mining concessions in the regency of Nagan Raya and West Aceh, whereas the rest will be used for the group’s working capital expenses. Reswara Group has allocated US$ 125 million for the infrastructure construction in which part of the fund was obtained from ABM’s Initial Public Offering (IPO) proceed in 2011 and the other part from loan financing. “We are optimistic that the construction will be completed by Semester II this year,” stated Harry Asmar, President Director of Reswara. 

The funding from QNB, QNBK and Indonesia Eximbank will contribute a positive result to the construction of coal mining infrastructure in Aceh which is expected to bring a multiplier effect to the local economies in the region. The funding will be allocated for the construction of port, main haul road, office, workshop and other supporting facilities in maximizing competitive advantage for the Reswara’s coal mining, whereby they are located relatively close to the port (around 12 km) and directly connected to the Indian Ocean.
Andi Djajanegara, President Director of ABM Investama explained "The loan signing agreement is an important milestone for the development of the infrastructure for our mines in Aceh. It is also an evidence of commitment and seriousness of the company to continuously growing and developing Aceh, which we hope will bring multiplier effect towards the region’s economy."

"The confidence from the financial industry in providing financing to us shows a promising development in the coal industry, especially in the province of Aceh. It has a great potential resource and geographical advantage for the domestic and regional markets, which are currently increasing significantly,” added Andi.