Govts injects Rp 2t into Geo Dipa

The government has transferred its assets worth more than Rp 2 trillion to geothermal firm PT Geo Dipa as part of capital injection to improve the firm?s capital structure, the Cabinet Secretary said in a statement on Thursday.

The handover of assets was stipulated in the Government Regulation No. 1/2015 signed by President Joko Widodo on Jan. 5, according to the statement.

The government?s assets that were transferred to the firm include lands, power plant, goethermal wells and supporting facilities at the Dieng and Patuah geothermal working areas in West Java.

Previously, Geo Dipa is a joint venture between state owned oil and gas firm PT Pertamina and state owned electricity firm PT Perusahaan Listrik Negara. In February 2011, a change was made in the ownership structure of the firm, in which Pertamina transferred its shares to the government. In December 2011, Geo Dipa changed itself into a new state owned enterprise.

Editing by Johannes Simbolon