Tower firm Protelindo secures USD50m loan from IFC

13 Aug 2013

Indonesian towers firm Protelindo has secured a USD50 million loan from the International Finance Corporation (IFC), a unit of the World Bank, to accelerate its deployment programme and improve mobile coverage across the country. Commenting on the development, Protelindo chief executive Adam Gifari said that the archipelago’s ‘geographical challenges mean that telecommunications plays a key role in the country’s infrastructure development’. The IFC loan will help the company to install additional multi-tenanted mobile towers on the islands of Java, Sumatra, and Kalimantan, among others, it said.

Protelindo owned nearly 9,000 telecommunications towers at the end of March 2013, up 33% from a year earlier. The company says it has secured USD2.7 billion in leases up to 2027 for the use of its towers and supporting facilities. The firm is a unit of publicly listed Sarana Menara Nusantara, a telecoms tower company controlled by the Djarum Group.