Malaysia firm forms JV to undertake sludge oil service

Malaysia company Ingress Environmental Sdn Bhd (IENSB), together with PT Amdac Indonesia, has formed a joint venture company called PT Ingress Amdac Environmental to undertake tank cleaning and sludge oil recovery from crude tank refineries in Indonesia, parent company Ingress Corporation Berhad said recently.

Ingress said under the joint venture agreement IENSB will get a 51 percent interest in the new company, while the remaining will go to PT Amdac.

Ingress added that the joint venture would pave the way towards Ingress participation in the Indonesian market, consistent with its strategy to expand its presence in the Asean region.

Ingress owns 70 percent stakes in IENSB. Meanwhile, PT Amdac?s shareholders are Amdac Holdings Sdn Bhd (55 percent) and PT Menara Investama Sejati (45 percent). (Robert)