Timah plans to acquire PT Pengerukan Indonesia

State-owned tin producer PT Timah Tbk plans to acquire PT Pengerukan Indonesia, a state-owned dredging monopoly, in a bid to tap the domestic dredging market, Timah president Thobrani Alwi said Wednesday.

?Indonesia with the large number of ports and rivers is a potential market for the dredging business,? Thobrani said.

Thobrani said Timah was currently setting up a team to carry out due diligence on the dredging company. ?We hope that the team will start its work by January next year,? Thobrani added.

According to Thobrani, the due diligence would be completed in two or three months. (godang)