Cedrus, along with Platinum Partners, will provide a nonbinding term sheet to Cokal in relation to a $110m project finance facility for the project.
Both the firms will provide equal fund for the project, noted Cokal.
Cokal chairman and CEO Peter Lynch said: "We welcome the participation of Cedrus, who together with Platinum Partners will provide Cokal with strong financial support from two global financing partners.
"The addition of Cedrus with their strong global and regional presence provides further support for Cokal’s view of the merits of the BBM project and confidence in Indonesian mining opportunities generally."
The facility will be used to fund construction and commissioning of 2Mtpa BBM project, as well as to meet general working capital requirements during this phase of development, said Cokal.
BBM’s production IUP includes an area of 14,980 hectares (ha), adjacent to BHP Billiton’s Juloi tenement.
Cokal is also planning to raise bank financing for its 50% share of the barging fleet senior debt ( around $15m), for the 50:50 river Barging Joint Venture with a local Indonesian shipping company, Meratus Advance Maritime (MDM).
Cedrus manages direct investments in China, Southeast and Central Asia, Australia and Africa, mostly in the natural resources, commodities, cleantech and life sciences sectors.
