JAKARTA, PT Indonesia Infrastructure Finance (IIF) is appointed as Mandated Lead Arranger by PT LEN Telekomunikasi Indonesia. In its capacity as Mandated Lead Arranger, IIF will organize and search for syndicated financing to fund the development of fiber optical backbone network of national Palapa Ring Central Package.
The MoU (Memorandum of Understanding) is signed by the President Director of IIF, Arisudono Soerono, and President Director of PT LEN Telekomunikasi Indonesia, Raden Wahyu Pantja Gelora, in between the 2nd Annual Indonesia Infrastructure Finance Conference Euro Money with IIF as the main sponsor, at Grand Hyatt Jakarta, Tuesday (24/5).
"With IIF experience in infrastructure financing, as financial advisor, along with extensive international network, and strong support from the shareholders, we believe that we can help PT LEN Telekomunikasi Indonesia to obtain financing sources with the best rate," explains Arisudono.
Palapa Ring is telecommunication network construction project that connects all parts of Indonesia, to minimize the distance and shorten the time to communicate to and between regions throughout Indonesia. Especially for the Palapa Ring Project Central Package, the government has appointed PT LEN Telekomunikasi Indonesia to connect 17 cities/districts in five provinces, located in the central region of Indonesia that is Borneo, Celebes, and North Maluku. Palapa Ring project is targeted to be completed in the second quarter of 2018, so the presence of broadband networks can already be optimized by the people in the second quarter of 2018.