The loan can be converted into stocks in Wintermar with a price rate of IDR 500 ($0.052) per share and it expects that the loan will strengthen the company’s capacity to bid for several upcoming projects providing offshore vessels to support deepwater-drilling projects.
IFC East Asia and the Pacific director Sergio Pimenta said, "Our investment will assist the company’s expansion in the remote areas in Indonesia and will help improve infrastructure services in the country."
Wintermar president director Sugiman Layanto said, "Having IFC as a partner further underpins our commitment to establishing Wintermar as a high-quality Indonesian company with an internationally competitive fleet and high standards of quality, safety and corporate governance."
