Indonesian paper manufacturer PT Kertas Basuki Rachmat seeking US$60M in loans to build second paper mill with capacity of 150,000 tonnes/year, aims to construct mill next year, export paper products

LOS ANGELES , December 15, 2011 () – Paper manufacturer PT Kertas Basuki Rachmat Indonesia is seeking up to US$60 million in loans to build a second paper mill with a capacity of 150,000 tonnes per year compared with its first paper mill, which has a capacity of 10,000 tonnes/year, The Jakarta Post reported Dec. 14.

The mill would be constructed by the middle of 2012, said Ito Prawira, the company’s finance and administration director, but the company is seeking funding from banks and strategic investors.

Currently, the company’s products are sold domestically, but with the second mill, it plans to export products.

This year, the company swung to a net loss of 13.17 billion rupiahs (US$14.6 million) for the first nine months from a net profit of 74.31 billion in the same prior-year period due to soaring operating expenses, the Jakarta Post reported.

According to the company website, PT Kertas Basuki Rachmat produces uncoated woodfree paper among other paper products.

The primary source of this article is The Jakarta Post, Jakarta, Indonesia, on Dec. 14, 2011.

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