Medco buys out fuel blending, storage facility in Jakarta
Monday, January 8 2007 - 08:53 AM WIB
JSX listed firm Medco Energi International Tbk said Monday that its wholly owned subsidiary PT Medco Sarana Balaraja (MSB) had acquired 100 percent shares of local fuel plant operator PT Usaha Kita Makmur Bersama (UKMB).
According to Medco, UKMB has fuel blending plant and storage in Tanjung Priok, North Jakarta.
Medco believes that the fuel blending plant and storage will support its activities as an integrated energy company. It, however, did not give further detail.(denny)