28 11 2024
Strengthening Business, Kilang Pertamina Internasional Signs Trade Facility with DZ Bank
Jakarta, 28 November 2024 – To strengthen the financial aspect, PT Kilang Pertamina Internasional (KPI) signed a Trade Facility with DZ Bank (27/8). The Trade Facility provided by the German-based bank reached USD 200 million. The trade facility itself is a credit facility provided by the bank to support international trade transactions, both cash loans (Trust Receipt and Short Term Advance) and non-cash loans such as the issuance of Letters of Credit (LC) and Standby Letters of Credit (SBLC).
"KPI is very committed to implementing sustainable business through changes towards environmentally friendly financing," said KPI Finance Director Fransetya Hasudungan Hutabarat.
Fransetya explained that KPI's efforts to support sustainable business include initiatives to develop biofuels, increase energy efficiency, decarbonization efforts and encourage better environmental management in KPI's operations.
"We see DZ Bank as a strategic partner in this regard, contributing to global sustainability goals. We hope that today's agreement will be the beginning of a broader collaboration in the field of sustainable financing," said Fransetya.
According to Fransetya, the trade facility provided by DZ Bank to KPI will have a positive impact on both parties. According to him, this facility will also further strengthen KPI's position in optimizing financing and maintaining operational competitiveness in the global market.
"Along with the ongoing cooperation, we hope that DZ Bank can continue to provide competitive offers. We believe that with this cooperation, KPI can achieve a common goal of creating greater value for all stakeholders," said Fransetya.
Fransetya also added that the cooperation between KPI and multinational companies such as DZ Bank shows high confidence in KPI's ability to manage its operations and finances. KPI is also recorded as the first company in the Pertamina Group to receive this facility from DZ Bank.
"We greatly appreciate the support and trust in KPI. This reflects DZ Bank's belief in KPI's vision, mission and capabilities. This partnership signifies more than just a financial transaction, it represents a shared commitment to mutual growth and progress," said Fransetya.
Fransetya further explained that the trade facility obtained by KPI from DZ Bank will further strengthen KPI's funding aspect. "Previously, KPI had trade facilities with other domestic and international banks. With this addition, KPI will have trade facilities of up to USD 3.3 billion. This will further strengthen KPI's position in supporting national energy security," concluded Fransetya.
DZ Bank hopes to make a major contribution in facilitating the energy transition in Indonesia, which is one of the largest energy markets in Asia.
"As a bank that focuses on sustainability, green financing is an integral part of DZ Bank's business strategy in supporting projects that can reduce environmental impacts and increase energy security globally," explained Deputy Division Head of Structured Finance, Frankfurt Head Office - Mr. Winfried Münch in his remarks at the signing of the agreement.
KPI is a subsidiary of Pertamina that runs its main business of oil and petrochemical processing in accordance with ESG (Environment, Social & Governance) principles. KPI has also registered with the United Nations Global Compact (UNGC) and is committed to the Ten Universal Principles or Ten Principles of UNGC in its operational strategy as part of the implementation of ESG aspects. KPI will continue to run its business professionally to realize its vision of becoming a world-class Oil Refinery and Petrochemical Company that is environmentally aware, socially responsible and has good corporate governance.
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