Sierad Produce Received Additional Loans from BNI
PT Sierad Produce Tbk (“Company”) received additional loan facilities from PT Bank Negara Indonesia (Persero) Tbk (“BNI”) for business expansion currently pursued by the Company. The signing of loan agreement was held on Wednesday, 28 July 2010 in the form of Investment Loan (“KI”) with limit of Rp173 billion that will be used to develop Breeding Farm and Hatchery with total area of ± 206 Ha in Lebak (Tangerang) and in Parung (Bogor). The expansion in Breeding and Hatchery division is expected to increase production capacity by ± 30% in the next 2 years.
For further information, previously the Company has also received loan facility from BNI, in the form of Working Capital Loan (“KMK”) and Investment Loan, totaling Rp321.5 billion. The company is optimist that these additional facilities would improve the performance of the Company in order to achieve the target set.