ESSA - PT. Surya Esa Perkasa Tbk

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JAKARTA - PT Surya Esa Perkasa Tbk (ESSA) used the company’s equity as much as US321 million to support the Panca Amara Utama, the ammonia plant’s investment was much as US$830 million. The ammonia plant location is in Luwuk, Central Sulawesi.

Director of PT Surya Esa Perkasa, Makesh Agrawal, said the ammonia plant’s financing is from equity and loan from IFC and bank syndicate. “From the loan IFC and bank syndicate is as much as US$509 million,” said he in Jakarta.

According to him, the management will use the company’s equity and bank loan as proportional for the project. “Until now, our equity usage has not met US $ 300 million due to the loan. There was a 60% of the equity and now we could borrow 60% from loan. When both in the same proportion, we can use the equity and loan proportionally,” said he.

He said the project has been built since November 2015 and will be operating by the end of 2017. The ammonia plant was predicted as the biggest ammonia plant in Indonesia, after PT Semen Indonesia. The ammonia consumption will go up for some purpose such as fertilizer and explosive raw material. (LK)