Pelindo III Secures Rp121 Million in Loans

Jakarta, Nov 26 (Antara) - State port operator PT Pelabuhan Indonesia (Pelindo) III has secured US$121 million in loans from Credit Suisse and Deutsche Bank to finance the procurement of 10 ship-to-shore cranes (STS) and 20 automated stacking cranes (ASC). The loans, made through an export credit scheme managed by Finnish insurance company Finnvera, carry a 1.39 percent interest rate and are repayable in seven years, Pelindo III President Director Djarwo Surjanto said in a press statement released on Tuesday. The two kinds of equipment, manufactured by Finnish heavy equipment producer Konecranes, will be used at Teluk Lamong terminal in Surabaya, East Java, he added. PT Pelindo had signed a loan contract with the two banks on August 30 for the purchase of the cranes. The 10 STS and 20 ASC were purchased from Konecranes on March 1, 2013. The heavy equipment will be delivered in stages starting from January 2014. Ten units of ASC will be delivered as completely knocked down (CDK) units, while five units of ASC will be handed as completely built units (CBU). "The balance 10 ASC units and five STS units will be delivered in 2016, after the second phase of the construction of Teluk Lamong terminal is completed," he pointed out. Husein Latief, Pelindo III's commercial and business development director, said the heavy equipment will use environmentally friendly technology to match the requirements of the green port being developed by the company. (*)