IFC mulls $140m loan for Indonesian VSF exp

27 August 2008 18:04  [Source: ICIS news]

NEW DELHI (ICIS news)--International Finance Corporation (IFC) said on Wednesday it would consider lending up to $140m (€95m) to Indonesia’s PT South Pacific Asia (SPV) to partly fund its viscose staple fibre expansion project.

SPV, which is a subsidiary of Austria’s Lenzing AG, is expanding its viscose fibre capacity by 66,400 tonnes/year to 221,400 tonnes/year at Purwakarta in West Java, Indonesia.

IFC, the World Bank’s private sector funding arm, said the $191m project includes setting up of a sulphuric acid plant, gas-based carbon di-sulphide plant and 30MW captive power plant, it added.

IFC said its board of directors was slated to meet on 29 September to consider providing one long-term loan of $40m and another loan up to $100m to SPV.

($1=€0.68)

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