PP Presisi establishes joint venture for waste management
JAKARTA - PT PP Presisi Tbk (PPRE) and PT Sepuluh Sumber Anugerah (SSA) have established a joint venture in the field of hazardous waste management called PT Presisi Sumber Anugerah. PPRE owns a 51% stake out of a total placed and paid-up capital of Rp 5 billion in the company.
In the company's stock exchange filing, PPRE CFO Benny Pidakso said PSA engages in waste management including land and water decontamination in polluted areas. "The locations are in situ and ex situ using mechanic, chemical, and biological methods," he said.
The joint venture has Rp 12.50 billioni in base capital with Rp 5 billion in placed and paid-up capital, while its stock portfolio is valued at Rp 7.50 billion. SSA owns a 49% stake in the company, valued at Rp 2.45 billion. (LK/MS)