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Pertamina plans to acquire 60% shares of Rekayasa Industri

JAKARTA (rambuenergy.com) – State owned oil and gas company PT Pertamina is planning to acquire up to 60 percent shares of state owned engineering company PT Rekayasa Industri (Rekin), one of the largest engineering, procurement and construction (EPC) company in Indonesia. Pertamina aims to utilize Rekin’s expertice in EPC to support and develop Pertamina’s projects.

President Director of Pertamina Dwi Soetjipto told reporters after signing a memorandum of understanding with PT Pupuk Indonesia to build a petrochemical plant that Pertamina plans to acquire Rekin shares as Pertamina want to utilize domestic engineering capacity in developing its oil and gas projects.

“If the valuation is completed, we could carry out (the acquisition) this year,” Soetjipto said, adding at Rekin has a wealth of experience in EPC sector, including constructing oil-and-gas, power and fertilizer plant projects, not only in Indonesia but also in the Southeast Asia region.

“There are a number of Pertamina projects that have been developed by Rekin and the results were encouraging,” Vice President Corporate Communication of Pertamina Wianda Pusponegoro was quoted by detik.com as saying. (*)

 

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