JAKARTA - PT Wasesa Line (WL), a subsidiary of PT Mitra Investindo Tbk (MITI), secures a procurement contract for tugboat and drill pipe barge worth DIR 47 billion from PT Pertamina Hulu Kalimantan (PHKT).

Andreas Tjahjadi, President Director of MITI, said that this new contract will give more support to financial condition and revenue performance of the company. “The procurement of tugboat and drill pipe barge takes effect for 365 days, starting from August 1, 2023,” he added in the information disclosure quoted Thursday (31/8).

The tugboat and the drill pipe barge will be utilised to assist PKHT’s project in East Kalimantan.

MITI is known to have acquired 64.87 billion shares of WL, equivalent to 99.81% ownership, via a rights issue of 1.87 billion shares worth IDR 93.91 billion that were mostly claimed by PT Prime Asia Capital (PAC). WL started its operation in 1955, recording total assets of IDR 109.78 billion until June 2023. (LK/ZH)