Indosat confirms additional loan for network expansion

2 Nov 2007

Indonesia’s second largest telecoms company by subscribers, PT Indosat, says it has secured an additional loan of IDR400 billion (USD44.4 million) from Bank Central Asia (BCA) to help finance its network expansion programme. The telco has now borrowed a total of IDR2 trillion from BCA. Indosat President Johnny Swandi says his company is looking to invest USD1.2 billion this year to increase service coverage and reach its new goal of 6.5 million new subscribers by year-end. The target is higher than the 5.5 million figure set earlier this year. By end-June Indosat was on track to meet its goal, having signed up 3.3 million new subscribers.