Q-FREE: EXPORT CREDIT NORWAY FINANCING IN PLACE FOR JAKARTA CONTRACT
Q-Free has been informed that a loan agreement has been signed between Export Credit Norway and PT Rin Indonesia Jaya, a subsidiary of PT Inovisi Infracom Tbk, for part financing of the previously announced Electronic Law Enforcement (ELE) project of approximately NOK 1 billion in Jakarta in Indonesia. As part of the financing agreement, PT Inovisi Infracom Tbk has signed a parent company guarantee for the loan.The loan will be released upon initial payment of USD 6 million to Q-Free, which will also mark the start-up of the project. The loan from Export Credit Norway is the majority of