Redland Asia to run energy-related businesses

Publicly listed PT Redland Asia Capital Tbk., previously called PT Palm Asia Corpora Tbk., said that it would change its core business and evolve its status into a holding company that will manage several subsidiaries engaged in energy-related businesses, Koran Tempo reported Friday.

 

PT Redland’s president director David Darmawan said in Jakarta Wednesday that the energy-related subsidiaries that the company would manage include the power plant, oil drilling and alternative energy like bio-fuel.

 

According to David, power plants that the company would manage would be located in Java and Kalimantan. “The one in Batam is under negotiation,” he said.

 

He said that the company’s oil drilling firms would be located in Jambi, Sumatra and Papua. “Our planned bio-fuel firm will be located in Yogyakarta and Bandung,” he said.

 

He did not give further details. (*)