REPUBLIKA.CO.ID, JAKARTA -- State port operator PT Pelindo I is seeking to issue bonds worth Rp300 billion in the second quarter of 2015 to meet its capital expenditure.
"We are still seeking to issue bonds. Proceeds from the issuance of the bonds will be used to meet capital expenditure in 2015," President Director of Pelindo I Bambang Eka Cahyana said on the sidelines of a seminar on the development of Kuala Tanjung Port here on Wednesday.
Cahyana added that local credit rating agency Pemeringkat Efek Indonesia (Pefindo) had assigned its idAA rating for Pelindo I, indicating that the company is quite capable of issuing bonds.
In 2015, Pelindo I will allocate funding of Rp3.2 trillion towards capital expenditure. Of this, Rp1.2 trillion will be internal cash and Rp2 trillion will be covered by bank loans.
The capital expenditure will be used to develop Kuala Tanjung Port and revitalize Belawan Port in North Sumatra.
The Kuala Tanjung Port will be developed into a liquid bulk terminal, particularly for crude palm oil.
It will take 18 months to complete the project, which will include a container terminal, a 400-meter-long pier, a hoarding area with a capacity of 400,000 TEUs per year, and information technology installations.
He further noted that Pelindo I will cooperate with other state enterprises, such as state construction companies Pembangunan Perumahan, Waskita Karya, Wijaya Karya, and Hutama Karya, state-run aluminum maker Indonesia Asahan Aluminium (Inalum), and state plantation company PTPN III.
Pelindo I currently manages 19 ports in the provinces of Aceh, North Sumatra, Riau, and Riau Island
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