Medco, Mitsubishi in strategic alliance pact
Friday, August 24 2007 - 04:47 AM WIB
JSX-listed energy firm PT.Medco Energi Intenasional and Japanese firm Mitsubishi Corp. has entered into Strategic Alliance Agreement on August 23, 2007 to increase cooperation in the area of upstream and downstream oil, gas industry, drilling services, power generation, chemical and bio-ethanol market.
Mitsubishi has become 20 percent indirect shareholder of Medco after it had paid US$352 million for a stake in Medco?s shareholders Encore Ltd. (alex)