JAKARTA. PT Astrindo Nusantara Infrastruktur Tbk (BIPI), a coal mine infrastructure company, is planning to purchase 10% of shares of PT Arutmin Indonesia, a subsidiary of PT Bumi Resources Tbk (BUMI).
Michael Wong, Director of Finance of Astrindo Nusantara Infrastruktur, revealed that the process of acquisition is still under the agreement phase, and yet to reach the legal phase. “I estimate it to take effect approximately in the first half of 2023,” he announced his plan during the Public Expose Live 2022 yesterday (15/9).
PT Arutmin Indonesia is one of BIPI’s primary users, gained through its subsidiaries, PT Mitratama Perkasa and PT Nusa Tambang Pratama, as well as the one that is handling the Kaltim Prima Coal mining project. Arutmin Indonesia has a special mining business license over 34,027-hectare area, and is now the coal provider for power plants and industrial plants across Asia and the globe.
Wong clarified that this 10% acquisition will have BIPI as the passive investor. “With this 10% shares, we are more likely to be a passive shareholder,” he confirmed. (AM/ZH)