July 4, 2019 / 4:02 AM / 3 months ago

Indonesia's Pertamina signs $1.5 bln loan agreement with Korean Eximbank

JAKARTA, July 4 (Reuters) -

* Indonesia state oil and gas company PT Pertamina signed a framework agreement with South Korean Eximbank for $1.5 billion loan, Pertamina said in a statement late on Wednesday

* The loan will be used to help finance Pertamina’s refinery projects, according to the statement

* “With this framework agreement, we hope this will create other potential partnership with South Korean companies, especially for Balikpapan refinery development master plan,” said Pertamina spokeswoman Fajriyah Usman

* Pertamina appointed South Korea’s SK Engineering & Construction Co and Hyundai Engineering Co Ltd as engineering and construction contractors for its $4-billion Balikpapan refinery upgrade. (Reporting by Wilda Asmarini; editing by Uttaresh.V)

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