Elnusa, Jasa Sarana form joint venture
Saturday, February 25 2006 - 01:47 AM WIB
PT Elnusa Group and the provincial administration of West Java through its company PT Jasa Sarana have formed two joint ventures to operate in oil and gas sector and telecommunication business, Bisnis Indonesia reported on Saturday.
The joint ventures are PT Jabar Energi which will be involved in oil and gas industry, and PT Jabar Telematika which will be involved in the telecommunication-related business. Elnusa will have 51 percent stake in each of the two joint ventures, which will respectively have an initial capital of Rp 1 billion.
"The establishment of the two companies is in line with the West Java provincial administration's economic vision," said Rudi Radjab, the president director of Elnusa Group. (*)