MEDC - PT. Medco Energi Internasional Tbk

Rp 1.335

-75 (-5,62%)

JAKARTA. PT Medco Energi Internasional Tbk (MEDC), through its subsidiary, PT Medco Intidinamika, and Siemens Energy will form a joint venture in the sustainable energy and low-carbon technology sector.

This collaboration plan was officially agreed and signed in between series of B20 events yesterday (10/11) in Nusa Dua, Bali. This joint venture establishment has the support of B20 Investment Forum. Bahlil Lahadalia, Minister of Investment, witnessed the signing of the Memorandum of Understanding (MoU) of this cooperation. He then explained that this collaboration will focus in expediting investments. Siemens Energy is projected to establish a company in Indonesia in 2023 and make local investments.

With this cooperation taking effect, Lahadalia wishes to create a direct foreign investment inflow and, consequently, work opportunities. “It is a wise oprtion as Indonesia has high market opportunities and great raw materials,” he added in his speech yesterday (10/11).

Samuel Morillon, Senior Vice President of Siemens Energy, claimed that through the formation of this local company, his company supports Indonesia’s initiatives of transition to sustainable energy to attain zero emission level. Yaser Raimi Panigoro, Commissioner of Medco Intidinamika, also believed that this strategic alliance between Medco and Siemens Energy will allow his company to offer decarbonisation solution and swift energy transition for Indonesia. (AM/ZH)