Indo Straits enters lease deal with Mitra Falag

By Peni Pedriawan

IDX-listed PT Indo Straits Tbk announced that the company has recently entered into the Lease Agreement of Clamshell Dredger package with PT Mitra Falag Lestari.

Under the Agreement, the company will provide the package of Clamshell Dredger to conduct the dredging at Allur Muara Kintab, Kabupaten Tanah Laut, South Kalimantan, for a period of two months with value of approximately Rp.7 billion.

The company said that utilization of the Clamshell Dredger package is expected in October 2012 with an option to extend of minimum one month and will be extended by agreement from both parties.

PT Mitra Falag Lestari is a business partner which has long been in cooperation with the company, especially in integrated marine services.

Editing by Adianto P. Simamora