Indo Straits in dredger lease deal

Indonesia-listed firm PT Indo Straits Tbk announced Thursday that it has entered into the lease agreement of clamshell dredger package with PT Mitra Falag Lestari.

Based on the agreement, the company will provide the package of clamshell dredger to conduct the dredging at Alur Muara Kintab, Tanah Laut regency, South Kalimantan, for a period 2 months with value of approximately Rp.6 billion.

Utilization of the dredger as specified in the agreement is expected in December 2011 with an option to extended minimum a month and will be extended by agreement from both parties.

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