Amadeusz Juskowiak

Taiwan banks asked to take part in indonesia loan

Chase Manhattan Asia Ltd of Hong Kong has approached Taiwan banks to take part in a syndicated loan of 300 mln US Dlrs to finance a liquefied natural gas LNG project in Indonesia local banking sources said

The project calls for construction of a 400 mln US Dlr facility which could produce two mln tonnes of LNG for supply by Taiwans stateowned Chinese Petroleum Corp

This was the first time Taiwanese banks including the Bank of Taiwan and Bank of Communications were invited to form a syndicated loan they added

Pertamina has initialled a 20year contract with Chinese Petroleum Corp CPC for the supply of 15 mln tonnes of LNG for Taiwan starting October 1989 a CPC official said

CPC is building an LNG receiving terminal in southern Taiwan city of Kaohsiung at a cost of 820 mln US Dlrs The terminal will be completed in mid1989

A Taiwanese banker saidIt will be a good idea for our banks to take part in the loan if we want to start in the international lending market

REUTER