| Samchully Co. acquisition of 34% shares Plaju gas project |
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| Monday, 26 July 2010 10:02 | |||||||
Page 1 of 2 JAKARTA: Samchully Co., through its coal business unit Samtan Co. acquired 34% shares of Natural Gas to Liquid project Plaju, South Sumatra, replacing the original position of E1 Corp. in cooperation with PT Pertamina Geothermal Energy in a project worth U.S. $ 192 million.Director of Development and Commerce Pertagas Hardjana said Samtan decided to take full ownership of E1 on the project, amounting to 34%. Acquisition process, he said, has been completed after due diligence process is completed a month ago. "Last week only a formality only. Actually the deal was completed about a month ago. That after due diligent process is fully completed and the company also has been recommended by the E1, "he said today. That also led to the acquisition executive stated Samtan E1 fully take stock. So, he said, in this case the role of E1 Samtan previously lived forward. Samtan a business unit of coal from South Korean companies, Samchully. Samtan is the owner of the shares of Kideco Jaya Agung which operates a coal mine in Paser, East Kalimantan. Samchully itself has a major business gas supplier on the South Korean city. "The inclusion of Co in Samtan Pertagas NGL project also represents a first for the Indonesian Samchully gas business," the source said By: Rudi Ariffianto (Bisnis.com)
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