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Outotec

Outotec supplies a tin smelter to Indonesia to the world's second largest tin producer

Outotec supplies a tin smelter to Indonesia. The buyer is the world's second largest tin producer. The technology supplied by Outotec will replace PT Timah's existing tin smelters.
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Outotec supplies a tin smelter to Indonesian PT Timah Tbk. The buyer is the world's second largest tin producer. The Ausmelt Furnace technology supplied by Outotec will replace PT Timah's existing tin smelters.

The deal is part of a larger investment and is financed by Mitsubishi UFJ Financial Group (MUFG).

Name of the Guarantee Holder: MUFG Bank, Ltd, London Branch, a company incorporated in the United Kingdom.
Finnvera Agent: MUFG Bank, Ltd, London Branch, a company incorporated in the United Kingdom.
Name of the Exporter: Outotec Oyj, a company incorporated in Finland, and its subsidiaries.
Name of the Lender: MUFG Bank, Ltd, Jakarta Branch, a company incorporated in Indonesia.
Name of the Buyer and Borrower: PT Timah Tbk, a company incorporated in Indonesia.
Project/Export transaction/Goods: Delivery of goods for a tin smelter upgrade and related services at Borrower’s plant located in Bangka, Indonesia.
Country of Export transaction/project: Indonesia.   
Credit amount: USD 32,000,000
Credit period: 10 years.
Credit amount covered by Finnvera: USD 32,000,000
Percentage of cover: 95 %
Environmental and social classification: B
Environmental and social impact information (in B): Key environmental and social issues related to occupational health and safety, contractor management and supply chain human rights issues
International standards applied in benchmarking: IFC Performance Standards and WBG General and Relevant Industry EHS Guidelines
Contact point: environment(at)finnvera.fi
Information published: 29 April 2020