Bank Mandiri Disburses Rp2.3 Trillion Loans For 2 National Infrastructure Projects

Illustration (Photo: Doc. Bank Mandiri)

JAKARTA - PT Bank Mandiri Tbk. It was stated that they had agreed to disburse loans totaling Rp. 2.3 trillion to finance the implementation of two basic national infrastructure projects.

The first loan was disbursed to PT Wika Tirta Jaya Jatiluhur in the amount of IDR 572.6 billion for the construction of the Jatiluhur I Regional Drinking Water Supply System (SPAM) Project.

This financing is part of a Rp1.17 trillion syndicated loan with PT Sarana Multi Infrastruktur (SMI) and BPD Jabar where Bank Mandiri acts as Mandated Lead Arranger and Bookrunner (MLAB) and as Facility Agent, Guarantee Agent, and Shelter Agent.

Bank Mandiri President Director Darmawan Junaidi said the second facility was given to PT Baja Titian Utama in the amount of IDR 1.73 trillion to work on the replacement and/or duplication of 37 Callender Hamilton (CH) Bridges spread across Java Island.

"This corporate action is a realization of Bank Mandiri's support as a state-owned company in the government's efforts to accelerate the provision of strategic infrastructure," he said in an official statement, Friday, April 1.

According to Darmawan, the company is proud to be able to participate in this construction project considering that the infrastructure built is related to the needs of the wider community.

"We hope that Bank Mandiri's participation will further prove the presence of SOEs for the country of Indonesia," he said.

To note, the syndicated loan in the Jatiluhur I Regional SPAM project has a tenor of more than 11 years which is expected to be completed in 2024. Later, the Jatiluhur I Regional SPAM is planned to increase the supply of drinking water to DKI Jakarta, Bekasi, and Karawang.

Meanwhile, the term loan facility for PT Baja Titian Utama has a term of 12 years where the total construction project of 37 bridges on the island of Java spread across the provinces of Banten, West Java, Central Java, and East Java is estimated to be completed in 2 years.

In addition, until the end of 2021 this state-owned bank has distributed financing support to the infrastructure construction sector with an outstanding of IDR 57.1 trillion. This number has increased by 12 percent when compared to the same period last year.

Bank Mandiri was also recorded as occupying the top position as Mandated Lead Arranger and Bookrunners (MLAB) with a syndicated market share of 20.78 percent in Indonesia as of the end of 2021.