Moya Asia Limited has announced that it is currently in discussions with the IFC in relation to potential financing to partially fund a BOT Project which involves the design, build, upgrade, uprate, operate and transfer of a fresh water treatment complex and associated network development which will supply water to the Tangerang City Area, Indonesia.

Moya Asia Limited announced the signature of the BOT project back on February 20th, 2012.

The total cost of the BOT Project is estimated at approximately USD140 million, taking into consideration the expected capital investment of USD120 million as well as an additional USD20 million for contingency purposes.

The Potential IFC Financing is for up to USD35 million through a combination of a senior loan to the Company's wholly-owned subsidiary, PT Moya Tangerang and an equity injection into PT Moya Indonesia. In addition, IFC may arrange for up to USD60 million from other banks and financial institutions to fund part of the BOT Project, on a best effort basis.

Moya Asia has announced that discussions with IFC are still in progress and any understanding reached to date is non binding in nature. There is no assurance that any definitive or binding agreements or any transaction will result from such discussions. In addition, the investment amounts are provisional. The company said that further announcements in relation to the Potential IFC Financing will be made in due course as and when appropriate.

Source: Moya Asia Limited