JAKARTA. PT Arkora Hydro Tbk (ARKO), a new and renewable energy (EBT) power plant company, has established a new subsidiary under the name PT Arkora Padalembara Terbarukan (APT).

Aldo Artoko, President Director of ARKO, said that the establishment of APT had been stated in the Deed of Establishment No. 25 March 6, 2023, made by Darmawan Tjoa, Notary in Jakarta. He added that the establishment of this business entity had also been approved by the Minister of Law and Human Rights (Menkumham).

"That APT's business activity is electricity generation through new and renewable energy sources originating from water (hydropower)," said Artoko, in an information disclosure on the Indonesia Stock Exchange (IDX).

The total issued and paid-up capital of APT is IDR 2.5 billion. In detail, IDR 2.49 billion (99.96%) was paid by ARKO through PT Sulawesi Hidro Mandiri and the remaining IDR 1 million (0.04%) was paid through PT Arjuna Hidro.

According to idnfinancials.com data, ARKO has also established a new subsidiary last February, under the name PT Arkora Hidro Pamulihan (AHP). This business entity also runs a hydropower project, and was established with an issued and paid-up capital of IDR 2.5 billion. (KR/LM)