JAKARTA: Port operator PT Pelabuhan Indonesia II has received an IDR11 trillion (US$1.28 billion) bank loan commitment to help it fund a sea port construction project that it is still bidding to win.State-controlled PT Bank Mandiri, which gave the 10-year-tenor loan commitment, would be allowed to invite other state-controlled or state-owned banks to join in the project financing, if Pelindo II wins the bid.Pelindo II and rivals are bidding for a job to build Kalibaru I container terminal, a project owned by the Transport Ministry.Kalibaru I project lies on a 75 hectare land with the length of dock at 1,200 meters, that can accommodate a maximum 1.9 million twenty foot equivalent units (TEUs).The container terminal is expected to enhance Tanjung Priok Port so it can serve large vessels with a capacity of more than 5,000 TEUs. Now, the port can only accommodate vessels having a maximum capacity at 3,000 TEUs.PT Pelindo President Director Richard Joost Lino asserted that Bank Mandiri was selected as the would-be banker through a bid which was participated by state-controlled PT Bank Rakyat Indonesia Tbk and PT Bank Negara Indonesia Tbk. Bank Mandiri was chosen because it offers the best pricing.Lino is optimistic that Pelindo II can win the container terminal project bidding because it has pocketed a right to match from the Transport Minister, on consideration that Pelindo is the project initiator. (03/20/gita a cakti/tularji) (t01/msw)

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