Indonesia/Buyer's Credit Insurance related to Mining Equipment Export Project
Nippon Export and Investment Insurance
NEXI has decided to provide Buyer's Credit Insurance (credit period of two years or more) concerning export of mining equipment to PT. PAMAPERSADA NUSANTARA (“PAMA”) in Indonesia
Komatsu Ltd., Japan's major construction and mining equipment manufacturer, will export mining equipment to PAMA, with Japan Bank for International Cooperation (JBIC) and a Japanese banking syndicate providing loan for PAMA’s payment. NEXI's insurance will cover the loan provided by this commercial bank syndicate. The loan agreement was signed in Jakarta on February 11, 2010.
PAMA is Indonesia's most prominent mining contractor company. Since its establishment in 1993, it has purchased more than 1,000 mining machines from Komatsu. PAMA is one of the most important partners in Indonesia for Komatsu, together with PT United Tractors Tbk, a parent company of PAMA and Komatsu's Indonesian distributor.
NEXI provided political and commercial risk cover based on corporate credit without a mid/long-term government guarantee for an Indonesian private company for the first time in March 2007.
The PAMA project is the second Indonesian transaction covered by NEXI on this scheme. NEXI will continue to support Japanese exports and investments to Indonesia.
|Insured||The Bank of Tokyo-Mitsubishi UFJ,Ltd.|
|Type of Insurance||Buyer's Credit Insurance|
|Covered Risks||Political and commercial risks|