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    PT LTI Signs Syndicated Financing of Palapa Ring Central Package

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    BANDUNG-PT Len Industri (Persero), through its subsidiary, PT Len Telekomunikasi Indonesia (PT LTI), signed the Financing Agreement with Syndicated Creditors on Syndicated financing of Palapa Ring Central Package on Monday (29/8) at the Grand Hyatt Hotel, Jakarta ,
     
     The signing was done by the Director of PT LTI, R.W. Pantja Gelora, and the Director (representative) of BNI, Managing Director of IIF (Indonesia Infrastructure Finance), Director of PT SMI (Sarana Multi Infrastructure), and witnessed by the Minister of Communications and Information Technology, Rudiantara, president director of PT Len Industri, Zakky Gamal Yasin, Managing Director BP3TI, president director of PT PII (Indonesia Infrastructure Guarantee Fund) and the other five members of the Consortium Pandavas.
     
     PT LTI, which is 51% owned by PT Len Industri, an Implementing Business Entities (BUP) formed consortium as the preferred bidder Five Pandavas Palapa Ring Project Central Package. Currently, PT LTI is implementing fulfillment of financing (financial close) as a condition for the start of the construction process.
     
     "The entry of PT Len Industri in this project further strengthens its position in the business spectrum of ICT (Information & Communication Technology). For Len, infrastructure development projects backbone telecommunications network will also open business opportunities in the ICT sector by utilizing more bandwidth up to 20 Mbps end- user, "said Doni Gunawan Communication Manager Len in a press release.
     
     After signing this, the next stage is the determination of the effective date of the contract at the beginning of September 2016, further laying the first stone (ground breaking), and then did start construction work. The job development Optical Fiber Communication Systems (SKSO), Cable Communication System (SKKL), and a microwave in parallel is scheduled for completion within the next 18 months, which ended with the adoption of the commercial operation date (COD).
     
     Palapa Ring Project Package Central is a project of Cooperation between the Government Enterprises (KPBU) first in the telecommunications sector by implementing a payment scheme service availability or availability payment (AP) amounting to Rp 4 trillion payable periodically during the concession period of 15 years guaranteed payment by the Government through PT PII.
     
     AP scheme initiated by the Ministry of Finance with funds from the Fund Contributions Universal Service Obligation (USO) and regulated in Minister of Finance Regulation 190 / PMK.08 / 2015. Component expenses payable by the AP are capital costs, operating costs, and a reasonable profit desired by business entities. jo

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