Indonesia to issue first project-based sukuk in Oct 11 auction

JAKARTA Tue Oct 4, 2011 4:19am EDT

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JAKARTA Oct 4 (Reuters) - Indonesia's finance ministry aims to issue the country's first project-based sukuk at an auyction on Oct. 11, with maturities of six and 21 years, sharia director Dahlan Siamat told Reuters on Tuesday.

The ministry will also issue six-month sharia T-bill, as well as 14-year and 25-year sukuk, with a total target of 500 billion rupiah ($56.2 million), Siamat said.

The long-awaited project-based sukuk will be backed by 1,066 infrastructure projects including roads and railways.

($1 = 8,897.5 rupiah) (Reporting by Aditya Suharmoko and Rieka Rahadiana; Editing by Ramya Venugopal)