Multistrada plans to boost production capacity to 11 million tires, obtains USD170 million loan
Loan should initially help Multistrada reduce its debt.
ndonesian tyre manufacturer PT Multistrada Arah Sarana Tbk (Multistrada) intends to enhance its annual car-tyre production capacity to 11 million units in 2014, up 10% from the current level of 10 million units, reports Reuters. The company has obtained a loan of USD170 million from PT OCBC NISP Tbk Bank. The loan, which bears a LIBOR interest rate of 4.25%, will mature in 2021.
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