JAKARTA. PT Arkora Hydro Tbk (ARKO), a power plant company, has established a new subsidiary called PT Arkora Hydro Kalimantan (AHK).

Prisca Lumban Tobing, Corporate Secretary of ARKO, said that this subsidiary is formed along with PT Arjuna Hidro (AH). In this new subsidiary, the company controls 99.96% of AHK’s shares worth IDR 2.49 billion through PT Arkora Pembangkitan Hijau (APH). Meanwhile, another 0.04% belongs to AH.

“The impact of establishing AHK, through AHP and AH as its shareholders, is making the company indirectly owning 99% of AHK,” Tobing confirmed in the information disclosure.

According to IDNFinancials data, ARKO aims to build 13 hydropower plants with total capacity reaching 140.5 megawatt (MW). The amount of investment required to reach this target is projected to reach USD 1.8 million to USD 2.22 million per MW.

“Within the next 4 years, we plan to already generate 125 MW from operating hydropower plants,” added the management of ARKO last year. (KR/ZH)