French?s Cegelec to expand business in Indonesia

French energy company Cegelec is planning to acquire several Indonesian companies engage in energy, mining and telecommunications through its subsidiary PT Indokomas Buana Perkasa (Indokomas), Investor Daily reported Thursday.

The acquisitions will take place in the middle of 2007.

?Currently, Cegelec is searching and looking at potential Indonesian companies for the purpose of acquisition. If we get suitable companies, we have to invest around US$5-$15 billion,? Indokomas general manager Agus Sofiyandi said in Jakarta recently.

Cegelec chairman Claude Darmon said the company wants to take advantage of the positive prospects in Indonesia. The prospects, he said, will increase in the oil and gas sector as long as global oil prices are high. Other prospects will also be seen in the infrastructure sector, especially in building power plants and transmission lines in the energy sector.

Cegelec is active in technological services. Several giant companies like Total, Vico, BP, Chevron, ConocoPhillips, Medco and Amerada Hess have become Cegelec clients. (*)