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JAKARTA, INDONESIA\u00a0–\u00a0Media OutReach<\/a>\u00a0– 12 April 2021 –\u00a0Asia Pacific Rayon (APR)<\/a>, the largest integrated rayon fiber producer in
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APR is vertically
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The syndicated loan participating banks are PT Bank Rakyat Indonesia
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The joint mandated lead arrangers and bookrunners for the syndicated loan
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Basrie Kamba, Director, Asia Pacific Rayon<\/b>, said: “This funding will be used to
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APR’s planned expansion is
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“This loan facility and our continued investment in our operations are
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Hari Setiawan<\/b>, Executive
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“Support from BCA and other Banks reflect our confidence in APR, and as our
\nIndonesia, today announced that it has secured a syndicated loan facility of Rp
\n4.5 trillion (US$300 million) with national and international affiliated banks.
\nThe funding will be used to support continued capital investment in the
\ncompany’s production facilities at Pangkalan Kerinci, Riau Province,
\nSumatra.\u00a0 <\/p>\n
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\nintegrated through its supply chain, from renewable fiber plantations to
\nhigh-value textile development. It commenced operations in 2019 and was
\nformally inaugurated by President Jokowi Widodo in February 2020. APR
\nplans to increase its production capacity over the coming year to capture the
\nstrong growth potential of viscose staple fiber (VSF), strengthening its market
\nposition in Indonesia and in export markets across the region. APR is a member
\nof the RGE group of companies.\u00a0 Founded
\nby Sukanto Tanoto, RGE manages a group of resource-based manufacturing
\ncompanies with global operations.<\/p>\n
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\n(Persero) Tbk, PT Bank Central Asia Tbk, PT Bank Pan Indonesia Tbk, PT Bank
\nPembangunan Daerah Jawa Barat, PT Bank Woori Saudara Indonesia 1906 Tbk and PT
\nBank KEB Hana Indonesia<\/p>\n
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\nare PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, and PT
\nBANK Pan Indonesia Tbk. <\/p>\n
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\nsupport continued investment in our operations in Kerinci. Rayon fiber, or viscose,
\nis a textile raw material derived from sustainably managed plantations. As
\nrayon is both renewable and biodegradable, it supports the trend towards
\nsustainable fashion in Indonesia and in other markets around the world.”<\/p>\n
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\naligned with the Indonesian Government’s strategy to increase investment and
\nboost employment to support the recovery of the country’s economy and address
\nthe continued impact of the COVID-19 pandemic. Following the passing into law
\nof the Omnibus Bill in October last year to streamline investment and stimulate
\njob creation, President Widodo said last month that investment would be the key
\nfactor in achieving 5% economic growth in 2021.<\/p>\n
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\nevidence of the growth potential of the viscose rayon sector in Indonesia and
\naround the world. We are committed to supporting the Indonesian Government’s
\nefforts to improve the investment climate in export-oriented manufacturing
\nindustries, and its efforts to create upstream jobs in plantations and the processing
\nof raw materials, and downstream opportunities in textile factories and related
\nbusinesses,” said Basrie. <\/p>\n
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\nVice President of PT Bank Rakyat Indonesia (Persero) Tbk<\/b> said : “As Representative
\nof JMLAB and all lenders, I hope this collaboration will be useful to support the
\ngrowth and development of PT Asia Pacific Rayon in increasing production and
\noperations and also supporting the recovery of Indonesia’s export growth.” <\/p>\n
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\ncontribution to promote a sustainable and environment friendly industry. We
\nhope this cooperation will tighten our relationship as well,” said Susiana Santoso,<\/b> Executive Vice President of PT Bank Central Asia Tbk.<\/b><\/p>\n