The loans will finance a chemical grade alumina project in West Kalimantan, and a steam power plant [PLTU] in Southeast Sulawesi.

Around $250M from the loans will be used to finance the alumina project, while the rest will be allocated for the PLTU.

The alumina project requires $400M in total investment.

The PLTU project requires $300M investment, of which about $75M will be from loans.

Antam aims to complete the financing of both projects this year.

If successful, the alumina project will start construction at the beginning of next year.

Source: The Jakarta Post, Jakarta