Jakarta (ANTARA News/Asia Pulse) - State-owned oil and gas company PT Pertamina said it is set to take over purified terephthalic acid (PTA) producer PT Polyprima Karyareksa, which is being offered by Bank Mandiri (JSX:BMRI), for US$400 million.
Earlier, it was reported that Pertamina had been made preferred bidder by the state bank, which has taken control of Polyprima over default on a debt of around $204 million (Rp1.3 trillion and US$60 million).
Pertamina is favored, as it has a long experience in operating a PTA factory in Plaju, South Sumatra and can guarantee a supply of feedstock paraxylene.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.