Indonesia's Pertamina May Acquire 60% of Engineering Firm Rekind



Reuters

JAKARTA, July 2 (Reuters) - Indonesian state energy firm Pertamina said it was considering acquiring a 60 percent stake in engineering contractor Rekayasa Industri (Rekind), among efforts to improve its engineering resources.

"We have just started a joint working group to evaluate this plan, together with Pupuk Indonesia and Rekind," Pertamina spokeswoman Wianda Pusponegoro told Reuters on Thursday. Pupuk Indonesia is the majority shareholder in Rekind.

A spokesman for Rekind, an engineering, procurement and construction (EPC) firm, was not immediately available for comment.

Earlier, Pertamina CEO Dwi Soetjipto told Kontan newspaper that the firm aimed to complete the acquisition this year.

($1 = 13,335 rupiah)

(Reporting by Fergus Jensen; Editing by Alan Raybould)



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