JAKARTA. PT Semen Indonesia (Persero) Tbk (SMGR) has channelled investment worth IDR 22.5 billion to PT Karya Logistik Nusantara (KLN), joint venture established by several state-owned enterprises (SOEs) for Nusantara Capital City (IKN).

Vita Mahreyni, Corporate Secretary of SMGR, said that the investment is carried out in relation to the takeover of stock portfolio issued by KLN. “The company will acquire 22,500 shares, bringing total portion in KLN to 20.93%,” she added in the official release.

As of March 31, 2024, SMGR recorded cash and cash equivalent of IDR 7.18 trillion. Its total assets were recorded at IDR 81.03 trillion, and total equity was IDR 48.31 trillion.

For the record, KLN was formed by 6 SOEs on February 10, 2023. SOEs in question include PT Adhi Karya (Persero) Tbk (ADHI), PT Hutama Karya (Persero), PT Wijaya Karya (Persero) Tbk (WIKA), PT PP (Persero) Tbk (PTPP), PT Brantas Abipraya (Persero), and PT Nindya Karya.

KLN is established in order to carry out precast concrete production and construction material trading activities. In addition, KLN is also engaged in warehouse and port business. (KR/ZH)