Angkasa Pura I's Airport - Photo by the Company

JAKARTA (TheInsiderStories) – Indonesian port operator, PT Angkasa Pura I (AP I) obtained loans from local lender, PT Bank Tabungan Negara Tbk (IDX: BBTN), PT Sarana Multi Infrastruktur (SMI) and PT BRI Syariah Tbk (IDX: BRIS) with an overall value of Rp 5 trillion (US$344.83 million).

The company will be looking for external funding sources of around Rp 13 trillion to finance capital expenditure of Rp 17.53 trillion in 2019. According to the President Director Faik Fahmi, the credit facility have a tenor more than 10 years, including a 5-year grace period.

In the long term (2019-2023), he said, AP I budgeted Rp 76 trillion for capital expenditure. The operator will fund that capital through loans from financial institutions, bond issuance, asset securitization and also through partnerships with strategic partners.

“AP I is lacking capability for the number of passengers that are far higher than the ability to provide. We are developing airports to overcome this problem,” he said.

Meanwhile, President Director of BBTN Maryono said that the bank is committed to providing funding in a non revolving facility scheme amounting to Rp2 trillion for business activities, airport development and investment routines of AP I.

On the other hand, SMI’ President Director Emma Sri Martini stated through this collaboration, the Fund can support the realization of inter-regional connectivity and bridge the need for infrastructure development in the airport sector in Indonesia, to the amount of more than Rp364 trillion.

Angkasa Pura I is one of the airport management SOEs in Indonesia and manages 13 airports and one Strategic Business Unit, such as I Gusti Ngurah Rai Airport, Juanda Airport Surabaya, Sultan Hasanuddin Airport Makassar, Sam Ratulangi Airport Manado, Semarang General Ahmad Yani Airport, Yogyakarta Adisutjipto Airport, and and Ngurah Rai Commercial Bali.

The company also has five subsidiaries, namely PT Angkasa Pura Logistik, PT Angkasa Pura Properti, PT Angkasa Pura Suport, PT Angkasa Pura Hotel, and PT Angkasa Pura Retail.

US$1: Rp14,500

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