Protelindo (IFC-32367)

Countries
  • Indonesia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Completed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 21, 2013
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
PROFESIONAL TELEKOMUNIKASI INDONESIA, PT
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 1,000.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Corporate Actor Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 7, 2020

Disclosed by Bank Apr 3, 2013

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The project is to support Protelindo in expanding its nationwide network of telecommunication towers which are leased to Indonesian mobile phone operators pursuant to long-term lease agreements. Protelindo is the largest independent owner and operator of tower sites in Indonesia.

The Company owned and operated 8,460 towers as of December 31st, 2012. As an independent tower operator, the Company allows multiple mobile operators to share tower space, creating significant economic and other benefits in the Indonesian mobile market which is undergoing rapid growth. The proposed IFC financing is expected to include a loan of up to US$50 million.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The total project cost is estimated at approximately US$1.0 billion. The proposed IFC financing is expected to include a loan of up to US$50 million.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Protelindo is owned by PT Sarana Menara Nusantara Tbk (“SMN”) which is listed on the Indonesia Stock Exchange. Protelindo is SMN’s sole operating subsidiary. SMN’s largest shareholder is the Hartono family of Indonesia with 34% ownership. The remaining shares are held publicly including by the Company’s management and advisory team. The Hartono family operates businesses in a variety of sectors, including PT Djarum and PT Bank Central Asia Tbk.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - PT Sarana Menara Nusantara Tbk Parent Company -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

1/ The Project Contact

Mr. Adam Gifari
President Director
PT Profesional Telekomunikasi Indonesia
Menara BCA, 55th Floor 
Jl. M.H. Thamrin No. 1 
Jakarta 10310, Indonesia 
Phone: +62 21 2358 5500
Fax: +62 21 2358 6446

2/ The IFC Contact

General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

3/ The Project Documentation

PT Profesional Telekomunikasi Indonesia
Menara BCA, 55th Floor 
Jl. M.H. Thamrin No. 1 
Jakarta 10310, Indonesia 
Phone: +62 21 2358 5500
Fax: +62 21 2358 6446

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works