Protelindo (IFC-32367)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Countries
  • Indonesia
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
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 21, 2013
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
PROFESIONAL TELEKOMUNIKASI INDONESIA, PT
The holder of the loan, grant, or other investment.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Corporate Actor Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 6, 2018

Disclosed by Bank Apr 3, 2013


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Project 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
  • International Finance Corporation (IFC)

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

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.

Contact Information

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/