Singapore?s KS Tech, Jambi Energi form joint venture

Singapore based equipment trading company KS Tech Limited has entered into a joint venture with PT Jambi Energi International Central (JEIC) to develop a logistic base in Jambi, Central Sumatra, to become a one-stop logistic and supply center for the oil and gas industry in the province and other parts of Indonesia, Kelive.Com said on Friday.

Kelive.Com said KS Tech would hold a 45 percent stake in the JV co for an initial investment of about US$157,000.

JEIC, a foreign capital investment company is the only local government enterprise in Jambi province that is involved in the energy industry especially the oil & gas sector. It will procure all the necessary approvals and licences to operate the one-stop logistic and supply center in Jambi.

Kelive.Com said as the only and first one-stop logistic center in Jambi, the JV company will enjoy significant first-mover advantages from clinching jobs from the oil and gas companies in Indonesia.

?It will also enable KS Tech to be in close proximity to its existing big customers like PetroChina and CNOOC that have presence in Indonesia,? Kelive.Com added. (robert)