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K-Water owns 70% stake in SPAM Karian-Serpong project

05 March 2021 11:29

JAKARTA - Korea Water Resources Corporation (K-Water) holds 70% of the Karian-Serpong Timur Drinking Water Supply System (SPAM) project and 30% is owned by PT Adhi Karya (Persero) Tbk (ADHI). This was conveyed by Parwanto Noegroho, the Corporate Secretary of PT Adhi Karya (Persero) Tbk (ADHI) in an information disclosure quoted on Friday (5/3).

He conveyed that ADHI had deposited IDR 250 billion as a capital injection (equity) for the development of the drinking water project. "The project for the construction of a water purification system and the distribution of drinking water is expected to increase profits and added value for the company," he said.

According to him, the two parties established PT Karian Water Services (KWS), as the Implementing Business Entity (BUP) earlier this week (3/3). This project received a take or pay back from the person in charge of the cooperation project (PJPK) at the Ministry of Public Works and Public Housing (PUPR).

SPAM Karian Serpong Timur is part of a national strategic project referring to Presidential Decree No.109 / 2020. The clean water supply capacity of this project is 4,600 liters per second, which is targeted to serve 386,000 house connections (SR). (LK/LM)

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