Published: Thursday May 3, 2012 MYT 6:00:00 PM
Press Metal secures RM350m loan from Maybank, RHB Bank
KUALA LUMPUR: Press Metal Bhd has obtained a RM350mil syndicated term loan facility from Malayan Banking Bhd and RHB Bank Bhd for the aluminium smelting plant project in Samalaju Industrial Park, Bintulu.
It said on Thursday its unit Press Metal Bintulu Sdn Bhd had secured RM175mil each from the two banks. The term loan would be used to part finance the construction of Phase 2B of the project which would increase the plant's additional annual capacity by 120,000 tonnes.
Maybank Investment Bank Bhd and RHB Bank Bhd had jointly arranged the term loan facility.
Last year, Press Metal Bintulu secured a RM400mil syndicated term loan facility arranged by the banks to part finance phase 2A of the project.