Pembangunan Perumahan sets up energy subsidiary
Wednesday, August 31 2016 - 02:46 AM WIB
IDX-listed construction and engineering company PT Pembangunan Perumahan Tbk has set up a new subsidiary called PT Pembangunan Perumahan Energi (PPE), which is engaged in the energy sector.
The company said in a statement obtained Wednesday that it holds 99 percent stake in PPE, while the remaining 1 percent is held by a foundation owned by its employees (YKKPP). No further details were provided.
The move to set up the new subsidiary engaged in the energy sector comes as the state-controlled Pembangunan Perumahan is seeking to play greater role in the construction of power plant projects in the country.
The company was appointed by state-electricity firm PT PLN as the EPC contractor for the development the PLTG Gorontalo gas-fired power plant in Gorontalo, which was completed in January of this year. The company is also currently constructing a 22 MW gas cogeneration power plant in Gresik, East Java, owned by state-owned fertilizer firm PT Pupuk Indonesia. Pembangunan Perumahan has said that it aims to grab more business opportunities presented by the government?s program to build a combined 35,000 MW power plants until 2019.
Editing by Reiner Simanjuntak