JAKARTA. PT Chandra Asri Petrochemical Tbk (TPIA) has obtained an equity investment worth USD 194 million from Electric Generating Public Company Limited (EGCO) Group, an independent energy company from Thailand.

Said investment is carried out via a capital investment in PT Chandra Daya Investasi (CDI), a subsidiary of TPIA engaged in the infrastructure solution business. The portion of EGCO Group in CDI is 30%, while another 70% remains under the control of the company. 

Erwin Ciputra, President Director of TPIA, said that this investment by EGCO Group is welcomed by TPIA in order to create a synergy for a sustainable future. "By utilising our power, we believe this collaboration will bring positive changes in infrastructure landscape in Indonesia," answer Ciputra in the information disclosure in Indonesia Stock Exchange (IDX). 

Meanwhile, Thepparat Theppitak, CEO of EGCO Group, asserts that this investment aligns with the company's mission to acquire high-quality, profitable gas-fired power plant. "This investment will help to reinforce our power plant business and expand fuel and other infrastructure businesses in ASEAN," Theppitak added.

With investment pouring in from EGCO Group, CDI is projected to utilise the capital to advance its infrastructure business. It involved development of energy and water infrastructure, including ports. (KR/ZH)