London-based Aggreko to invest additional $40m in Indonesia Reviewed by Momizat on . London-listed company Aggreko, which is in the business of providing temporary power and temperature control services, has announced a further investment in Ind London-listed company Aggreko, which is in the business of providing temporary power and temperature control services, has announced a further investment in Ind Rating: 0
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London-based Aggreko to invest additional $40m in Indonesia

London-based Aggreko to invest additional $40m in Indonesia

London-listed company Aggreko, which is in the business of providing temporary power and temperature control services, has announced a further investment in Indonesia totaling $40 million.

The company currently operates in Indonesia through its subsidiary PT Aggreko Indonesia.  At present, it has around 210 megawatts (MW) of fleet in operation in Indonesia.

Recently, it also secured contracts in the mining and utility industries and these deals are valued around $10 million. This includes work supporting the Sumatra Gold and Copper mine over a five year period and providing six month emergency power for Bintan Island with state electricity company PT Perusahaan Listrik Negara (PLN). The company currently employs over 100 people at several locations across Indonesia.

PT Aggreko Indonesia is planning to open a new depot within the Jakarta area and will locally recruit service personnel and maintenance materials for the new depot. Equipment will come from the company’s manufacturing facility in Dumbarton, Scotland.

The investment is part of the Group’s commitment to support Indonesia’s economic development and in particular PLN, as the company is developing gas powered generation projects.

Aggreko has been working across South East Asia for a number of years and was also recently awarded contracts in Myanmar and the Philippines totaling 115 MW.

Robert Wells, Managing Director for South-East Asia, said: “Aggreko has been operating in Indonesia for over six years and with this heritage comes a clear commitment to the country, which is reaffirmed by the level of investment announced today.“

“Aggreko continues to believe in the market opportunity that exists in Indonesia and supports all current and future employees in the country, as well as the people of Indonesia, as they develop their economy and power infrastructure,” Wells added.

British (UK) Prime Minister David Cameron in a statement said:  “Companies like Aggreko are leading the way in exporting their expertise from Glasgow to Jakarta – one of the fastest growing markets in the world. This £25 million investment will make a huge difference to Indonesia’s growing energy needs.”

Earlier this week, Cameron had visited Indonesia and met with the Indonesian President Joko Widodo. Both countries agreed to cement their relation and improved trade and investment between the two nations.

President Joko Widodo wants UK firms to not only invest in energy-related companies that but also in much-needed infrastructure projects in Indonesia, including ports, in which UK companies have wealth of experiences.

Aggreko plc supplies temporary power and temperature control solutions. Globally, Aggreko employs over 7,700 people operating from 211 locations. In 2014 we served customers in about 100 countries, and had revenues of approximately GBP 1.6 billion ($2.6 billion or Euros 2.0 billion). Aggreko plc is listed on the London Stock Exchange (AGK.L) and is a FTSE member, headquartered in Scotland.

By dealstreetasia.com

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