Geo Energy Secures $150 Million Sinosure Insurance Coverage for Indonesian Infrastructure Project

MT Newswires

Jan 07, 2025

Geo Energy Resources (SGX:RE4) has received approval from the China Export & Credit Insurance Corporation, or Sinosure, for full insurance coverage on its $150 million integrated infrastructure project in Indonesia, according to a filing with the Singapore Exchange on Dec. 26, 2024.

The project, located in South Sumatera and Jambi Province, encompasses a 92-kilometer hauling road and an associated jetty.

Sinosure will provide credit risk coverage, which will facilitate Engineering, Procurement, and Construction (EPC) contractors in securing financing for the project.

Upon completion, the Integrated Infrastructure is expected to facilitate road haulage capacity of 40 to 50 million tons per year. While 25 million tons are reserved for Geo Energy's PT Triaryani coal mine, the remaining capacity will be available for lease to neighboring mining operations.

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