Jakarta. State-run construction firm Adhi Karya recently announced that it had secured a credit facility worth Rp 1.35 trillion (around $83.5 million) from Bank Mandiri.

The two state-run companies signed the credit facility agreement in Jakarta not long ago. According to Adhi Karya’s press statement, the partnership marks a strategic step to bolster the company’s financial structure to make sure that all strategic projects that they are working on are running smoothly. 

“This funding is set to give a significant contribution to the company’s growth and business,” the company wrote in a press statement.

Adhi Karya -- also known by its ticker symbol ADHI -- said that the credit facility showed the trust that Bank Mandiri had for the company amidst today’s uncertain economic conditions and the not-so-good sentiments towards the construction industry. 

“This shows how ADHI can be a trustworthy partner as it books good business performance by committing to meet its obligations to all stakeholders,” the company said.

“We will continue to try to achieve the best possible performance and make tangible contributions to national development. We are committed to maintaining transparency and good communications with all stakeholders,” ADHI stated.