Johannesburg – A retail supermarket burnt down in Potchefstroom in the early hours of Thursday, North West police said.

At about 3am, Shoprite at River Walk Mall in Potchefstroom burnt to ashes. In the process, Life Line Cash Loan business was also affected, said Captain Tselane Nkala. She said the cause of the fire was not known.

The damages are still unknown as the fire and emergency services were still extinguishing the fire.

She said the police were investigating and trying to establish if there was any foul play. A case of arson had been opened.

Sapa

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Bank Negara Indonesia, the country’s fourth-largest lender by assets, agreed on Monday to lend Rp 3.95 trillion ($411 million) to construction company Hutama Karya, to help it finance infrastructure projects in the country.

Under the loan agreement signed on Monday, BNI will provide Rp 500 billion in a cash-loan facility and Rp 3.45 trillion in a non-cash loan facility.

Gatot Mudiantoro Suwondo, BNI’s president director, said the credit facility could be used by Hutama Karya to secure a bank guarantee to fulfill capital expenditures, or a letter of credit issuance for its projects this year.

“With this agreement, Hutama Karya could anticipate the possibility of an increase in capital spending for its projects,” said Gatot, adding Hutama Karya estimated that it would need about Rp 13 trillion to fund various projects.

The company did not provide any other terms of the loan including the tenor and the interest rate.

Gatot said that BNI had allocated about 30 percent of its credit facility for infrastructure projects. Outstanding loans at BNI had reached Rp 190 trillion as of August.

BNI will also provide cash management services for Hutama Karya’s accounts within the lender. Hutama Karya has total demand deposits valued at more than $4 billion at BNI — consisting of Rp 44.4 billion in rupiah-denominated deposits and $3.9 billion in dollar-denominated deposits.

BNI and Bank Mandiri, two of the four state lenders in Indonesia, have reportedly shown interest in funding various infrastructure projects. These projects include seaports, airports and toll roads in Indonesia.

Tri Widjajanto , Hutama Karya’s president director, said that the firm was currently handling several projects valued at around Rp 10.4 trillion.

Road, bridge and building construction accounts for about 70 percent of its business, he said.

Among Hutama Karya’s projects are the Tanjung Benoa toll road in Bali, a 179-kilometer toll road in Central Java, the St. Moritz mall in West Jakarta, and Jakarta’s mass rapid transit system.

Looking ahead, Tri said that Hutama Karya planned to expand into engineering, procurement and construction in the oil and gas sector, with a Rp 1 trillion contract to boost production in Exxon’s Banyu Urip field as the starting point.

Tri said the credit agreement was aimed at making the firm more competitive.

“In our sector, there are three main factors that determine the outcome of competition: human resources, technology adaptation and financing,” he said.

Ari Widiyantoro, corporate secretary of Hutama Karya, said the company made a profit of Rp 8 billion on the back of Rp 2 trillion revenue in the first semester.

“For the full year, we are targeting revenue of Rp 5 trillion and a net income of Rp 150 billion,” he said.

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Bank Mandiri has agreed to provide US$52 million in loans to PT Nusantara Regas, a company jointly owned by state oil and gas firm PT Pertamina and state gas distributor PT Perusahaan Gas Negara (PGN), to support its business activities.

The one-year loan followed a non-cash loan amounting $100 million that Bank Mandiri channeled to the company in March this year, which has so far been 85 percent disbursed.

Nusantara Regas recently began the operation of a floating storage and re-gasification unit (FSRU) in Java bay in West Java that delivers gas from the Mahakam block in East Kalimantan to the Muara Karang gas and coal fired power plant (PLTGU) owned by state power company PLN.

“We hope that Nusantara Regas can utilize this credit facility to support the operations of its FSRU,” Bank Mandiri institutional banking director Abdul Rahman said on Wednesday.

Nusantara Regas’ FSRU, the first facility of its kind in Asia, takes deliveries of liquefied natural gas (LNG) from tankers and turns it back into gas, a process known as re-gasification, before pumping it to the power plant through the undersea pipeline.

The FSRU has a total capacity of storing and regasifiying 3 million tons per annum (mtpa) of LNG.

The unit, however, is currently producing at less than 50 percent of its full capacity as LNG supply to the facility is still limited, according to Nusantara Regas president director Hendra Jaya.

At the moment, the firm’s FSRU receives 1.06 mtpa from the Bontang LNG plant in East Kalimantan.

“Our major challenge now is how to get additional supply for our [FSRU] so it can produce at its full capacity of 3 million [mtpa],” he said on Wednesday, adding that his company might aim to get the additional supply from the LNG plant belonging to oil and gas giant BP in Tangguh, among other sources.

Nusantara Regas plans to use the additional capital from Bank Mandiri to finance its activities, especially in managing the FSRU so its production capacity could be increased, he added.

As of July this year, Regas had delivered as much as 200 million standard cubic feet per day (mmscfd) of natural gas to PLN. The Muara Karang power plant absorbed 165 million mmscfd, while the rest was delivered to PLN’s plant in Tanjung Priok, North Jakarta.

As reported earlier, both PLN and Nusantara Regas have agreed on a price of $14.43 per mmbtu. Nusantara Regas’ Hendra agreed that the price was neither too expensive nor too cheap, meaning it was a win-win solution for both his company and PLN.

The construction of the FSRU is part of the government’s mission to provide better infrastructure for the domestic oil and gas industry in anticipation of rising domestic demand for gas, which is predicted to jump from 3,500 mmsfcd to 4,700 mmscfd in 2015.

The government has been encouraged an increase in the use of natural gas, especially for power generation, considering the fact that natural gas is relatively cleaner than other fossil fuels.

“We support any government programs that aim to reduce the usage of oil for powering PLN’s power plants,” said Bank Mandiri’s Abdul. Indonesia plans to build a number of LNG receiving terminals or FSRUs to cope with infrastructure problems in the distribution of gas throughout the archipelago.

Pertamina plans to convert the Arun LNG plant in Aceh into a receiving terminal. In addition, gas distributor PGN plans to build an FSRU in Lampung. (sat)

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