Bank Negara Indonesia to lend another US$25.6 mln to shipbuilder

Pt Bank Negara Indonesia has agreed to provide additional loan of US$25.6 million for state shipbuilding company PT PAL INDONESIA. PT PAL will use the fund to build four tankers on orders from Turkey and Italy, Gatot Murdianto Suwondo, the president of the state bank , which already provided a loan of US$83 million earlier for PT PAL * Gatot said the two state companies have reached an agreement that BNI will finance projects to be built by PT PAL.