Pertamina International Refinery Signs Trade Facilities With DZ Bank

Cooperation between KPI and DZ Bank (Photo: dock. KPI)

JAKARTA - PT Kilang Pertamina Internasional (KPI) signed a Trade Facility or Trade Facility with a DZ Bank.

The trading facility provided by the German-centric bank reached $200 million.

Just so you know, trading facilities are credit facilities provided by banks to support international trade transactions, be it cash loans (Trust Receipt and Short Term Advance) or non cash loans such as the issuance of Letter of Credit (LC) and Standby Letter of Credit (SBLC).

"KPI is very committed to carrying out a sustainable business through changes to environmentally friendly financing," said KPI Finance Director Fransetya Hasudungan Hutabarat, Thursday, November 28.

Fransetya explained that the efforts made by KPI to support sustainable business include initiatives to develop biofuels, increase energy efficiency, decarbonization efforts and encourage better environmental management in KPI operations.

"We see DZ Bank as a strategic partner in this regard, contributing to global sustainability goals. We hope that today's agreement will be the beginning of a wider collaboration in the field of sustainable financing," said Fransetya.

According to Fransetya, the trading facility provided by DZ Bank to KPI will have a positive impact on both parties. According to him, this facility will also further strengthen the position of KPI in optimizing financing and maintaining operational competitiveness in the global market.

"Along with the cooperation carried out, we hope that DZ Bank can continue to provide competitive offers. We believe that with this collaboration, KPI can achieve a common goal to create greater value for all stakeholders," said Fransetya.

Fransetya further explained that the trading facilities obtained by KPI from DZ Bank will further strengthen the funding aspect owned by KPI.

"Previously, KPI had trade facilities with domestic banks and other international banks. With this addition, KPI will have trading facilities of up to 3.3 billion US dollars. This will further strengthen KPI's position in supporting national energy security," Fransetya concluded.