JAKARTA – PT PP Presisi Tbk (PPRE) speeds up the completion of the Section 3 of the Cinere-Jagorawi Toll Road after securing the extension of a loan facility worth IDR 770 billion from PT Bank Negara Indonesia (Persero) Tbk (BBNI).
Adelia Auliyanti, Corporate Secretary of PPRE, confirmed that the facility extension agreement was signed last week on December 8, 2022. Approximately IDR 483.17 billion of the facility wll be allocated to the company itself, while the remaining IDR 286.82 billion will be channelled to PT Lancarjaya Mandiri Abadi (LMA), PPRE’s subsidiary.
The guarantee for this loan facility is worth IDR 1.21 trillion, which consists of IDR 757.04 billion from PPRE and IDR 455.25 billion from LMA.
According to Auliyanti, said facility will expedite the completion of the Section 3 of the Cinere-Jagorawi Toll Road, and thus allowing PPRE to gain contract revenue from said project faster. (LK/ZH)