JAKARTA - PT Harum Nickel Industry (HNI) channels loan facility of USD 45 million, equal to IDR 681.21 billion to support operational activities of PT Westrong Metal Industry (WMI). This subsidiary ofPT Harum Energy Tbk (HRUM)operates nickel smelting facility with 4 rotary kiln electric furnaces (RKEF) in Weda Bay Industrial Park, Halmahera Tengah.
In the information disclosure quoted Friday (4/10), the loan facility will be used as working capital and general financing for WMI. The loan principal will be charged with SOFR+2.60% per annum (p.a.) starting from the loan withdrawal.
As of now, the smelting facility managed by WMI is equipped with supporting infrastructure and converter, along with installed capacity of 56,000 tons of nickel per year for high-grade nickel matte.
This transaction is considered an affiliate due to similar shareholder, PT Harum Energy Tbk (HRUM). HRUM owns 99% of HNI, while 80.7% of WMI belong to HNI, with the remaining portion goes to HRUM. (LK/ZH)