Jakarta - PT PP Presisi Tbk (PPRE) extended the credit agreement with PT Bank Negara Indonesia Tbk worth Rp770 billion until May 31, 2023, from January 31, 2023.

According to the Director of Finance, Risk Management & Legal PPRE M Arif Iswahyudi, this credit facility is in the form of a working capital loan of Rp480 billion, which will be used for additional working capital to complete the construction work of the Cinere-Jagorawi toll road section 3, as well as a non-cash loan facility of Rp290 billion which will be used for the issuance of Letter of Credit undocumented Affairs/Letter of Credit in purchasing goods/services from within the country for the completion of project construction work.

"The company and PT Lancarjaya Mandiri Abadi (LMA) require an extension of the term of the working capital facility and non-cash loan facility to support financing for project implementation until completion," said Arif in information disclosure on Wednesday