JAKARTA - PT Rukun Raharja Tbk (RAJA) invested US$ 75 million from the total investment of the Rokan Pipe project worth US$ 300 million. This was conveyed by Djauhar Maulidi, President Director of PT Rukun Raharja Tbk (RAJA) in an information disclosure quoted on Wednesday (31/3).
He said that for the ratification of the plan, his party would seek approval at the Extraordinary General Meeting of Shareholders (EGMS) at the end of April 2021. "Our company has been selected as a strategic partner by PT Pertamina Gas (Pertagas) and follows the principles of good corporate governance," he said.
The construction of the Rokan Pipe is a joint project between RAJA and Pertagas which was signed on October 21, 2020. This 352.43 kilometer (Km) oil pipeline network in the Rokan Block consists of 12 segments and three stations as well as supporting facilities.
He said that the first phase of the construction of the Rokan Pipe project will be completed in the first quarter of 2021, and is expected to contribute to the company's revenue in 2022. (LK/LM)