ELPI Secures IDR 395.2 Billion Loan from Bank Mandiri for Genting FLNG Project in Papua
PT Pelayaran Nasional Ekalya Purnamasari Tbk (ELPI) has secured a total investment credit facility of IDR 395.2 billion from PT Bank Mandiri for vessel procurement related to the Genting FLNG project. The facility comprises two tranches: IDR 280 billion for immediate vessel procurement and IDR 115.2 billion pending conditions. The vessels are expected to be completed by Q3-Q4 2028 and leased for 18 years, with a contract value of IDR 2.39 trillion.
Theia Market Signal Identification - AI AssistedPT Pelayaran Nasional Ekalya Purnamasari Tbk (ELPI) obtained an investment credit facility totaling IDR 395.2 billion from PT Bank Mandiri for the procurement of 10 vessels for the Genting Floating Liquefied Natural Gas (FLNG) project. The facility includes IDR 280 billion for immediate use (KI IX) to finance six vessels and IDR 115.2 billion (KI X) that may become committed based on contract conditions.
The vessels, targeted for completion by Q3-Q4 2028, will be leased to PT Layar Nusantara Gas for 18 years, valued at IDR 2.39 trillion. ELPI anticipates stable revenue from the long-term contract.
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