BNI to allocate up to Rp 6 trillion for PTPN III

Tue, 12/20/2011 - 07:28

Bank BNI, Indonesia’s fourth largest banks by assets, plans to allocate up to Rp 6 trillion worth of loans for state-owned plantation company PTPN III next year.

 

BNI President Director Gatot Suwondo was quoted by Investor Daily on Tuesday as saying that PTPN III would use the funds to help finance the expansion of its palm oil derivatives project.

 

“The funds details are still being evaluated, but we would provide capital up to Rp 6 trillion,” he said. 

 

Gatot said that the loan for PTPN III would form part of the bank’s lending strategy in the agribusiness sector, which he said is quite prospective and thus considered as one of the eight economic sectors that would become the bank’s focus next year.

 

“Agribusiness is one of the eight leading sectors which we think have good business prospects, and which also plays a role as agent of economic development,” he said.

 

On Monday, BNI also signed a Rp 225 billion loan agreement with state-owned forest management company Pertum Perhutani.  The loan would be used among others to develop furniture and plywood industries. (rei)

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