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PTPP allocates Rp 9.37 billion for its drinking water business

15 March 2019 01:42 PM  Company: PT. Pembangunan Perumahan (Persero) Tbk[PTPP]
Rp. 2,110  0 (0%)

JAKARTA. PT Pembangunan Perumahan (Persero) Tbk (PTPP) began exploring the drinking water supply business, by establishing a joint venture with PT Krakatau Tirta Industri.

Agus Samuel Kana, Corporate Secretary of PTPP, said that the name of the joint venture was PT Krakatau Tirta Housing Development. The total capital prepared for this joint venture is Rp. 12.5 billion. with 75% or Rp 9.37 billion of it came from PTPP and the remaining 25% (Rp 3.12 billion) came from Krakatau Tirta Industri.

Kana said that the plant would be built in Gresik, East Java. "To implement the development of a drinking water distribution system (SPAM) with a capacity of 1,000 litres per second," Kana said on Friday (15/3) through information disclosure.

PTPP has 75% ownership in the Krakatau Tirta Housing Development while Krakatau Tirta Industri has 25%. (KR/AR)

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