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Three SOEs establish PT Kawasan Industri Terpadu Batang

17 December 2020 06:20

JAKARTA - Three state-owned enterprises and a Batang regionally-owned enterprise have established a joint venture called PT Kawasan Industri Terpadu Batang (KITB), which manages and operates the Batang Integrated Industrial Area, with Rp 200 billion in authorised capital. The companies are PT Pembangunan Perumahan (Persero) Tbk (PTPP), PT Kawasan Industri Wijayakusuma (Persero) or KIW, PT Perkebunan Nusantara IX (Persero) or PTPN IX, and Perumda Batang.

According to PTPP Corporate Secretary Yuyus Juarsa, KITB's legal entity was approved on Tuesday (15/12). "The establishment of KITB aims to develop the economy and management of the Batang industrial area," he said in a stock exchange filing on Thursday (17/12).

The joint venture, he added, does not affect PTPP's operational sustainability and will contribute recurring income to the company.

KITB has Rp 50 billion in placed and paid-up capital, with its ownership structure consisting of PTPP with Rp 17.5 billion (35%), KIW with Rp 15 billion (30%), PTPN IX with Rp 12.5 billion (25%), and Perumda Batang with Rp 5 billion (10%). (LK/MS)

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