Jakarta, 30 December 2024 – PT Indonesia Infrastructure Finance (IIF) has partnered with PT Polytama Propindo (Polytama) by providing a financing facility of USD 38.55 million.
This financing will be used to support development of jetty with pipelines and a spherical tank with a storage capacity of 1x 3,000 tons, along with supporting facilities.
IIF’s Interim Chief Executive Officer/Chief Financial Officer, Rizki Pribadi Hasan, stated, “The synergy between IIF and Polytama aligns with Government Regulation No. 66/2019 to strengthen and integrate the domestic petrochemical industry. Furthermore, this project will strengthen Polytama’s supply chain and lead to a more integrated system, thus solidifying Polytama’s position in the petrochemical industry”.
“We deeply appreciate the trust and support given to Polytama in carrying out this Polypropylene Plant Balongan (PPB) project. Hopefully, the synergy between Polytama and IIF will become even more solid in the future to achieve our common goals” said Joko Pranoto, President Director of Polytama.
This business development plan is also in line with the directive of the President of the Republic of Indonesia to optimize the domestic petrochemical industry as an effort to reduce imports of polypropylene (PP) needs within the country, which until 2023 was still dominated by imports of PP demand in the Indonesian market.
This collaboration serves as a concrete example of a strong synergy in supporting the government’s program to realize a self-reliant energy sector, thereby enhancing the competitiveness of the national industry.
PT Indonesia Infrastructure Finance
PT Indonesia Infrastructure Finance (“IIF”) is a private non-bank financial institution, which is engaged in infrastructure financing and advisory services that are professionally managed and focused on commercially viable infrastructure projects. IIF was established on 15 January 2010 at the initiative of the Government of the Republic of Indonesia. Currently, the ownership of IIF is held by PT Sarana Multi Infrastruktur/SMI (Persero), Asian Development Bank (ADB), the International Finance Corporation (IFC) which is part of the World Bank, Deutsche Investitions-und Entwicklungsgesellschaft (DEG) which is fully owned by KfW, and Sumitomo Mitsui Banking Corporation (SMBC).
In its operations, IIF applies best practices based on international standards in providing credit, risk management, good corporate governance, and social and environmental protection standards to ensure the sustainability of infrastructure development in Indonesia.
Further Queries:
Nastantio W. Hadi
Head of Legal and Corporate Secretary Division
PT Indonesia Infrastructure Finance
Telp: (021) 2991 5060;
Fax: (021) 2991 5061;
E-mail: [email protected]
Social Media:
•Instagram: @pt_iif
• LinkedIn:IndonesiaInfrastructureFinance