JAKARTA. PT Bukaka Teknik Utama Tbk (BUKK), a construction and manufacturing company, has partnered with PT Bangun Daya Utama (BDU) to establish two new joint ventures.

Irsal Kamarudin, President Director of BUKK, mentioned that both joint ventures are named PT Pembangkit Energi Terbarukan (PET) and PT Mandiri Energi Terbarukan (MET).

“Both had acquired approval as a legal and human right entity of Indonesia dated August 12, 2024,” added Kamarudin in the official statement.

Both joint ventures are formed with issued and paid-up capital of IDR 5 billion each. In their formations, BUKK claims control over 70%, equal to IDR 3.5 billion, of each JV’s issued and paid-up capital.

Kamarudin further mentioned that the establishment of these two joint ventures is meant to support the development of BUKK’s business lines in power plant industry.

“PET and MET are expected to generate positive impact to the company in the form of potential extra income and earnings for the company as their shareholder, as well as the companys capability in conducting renewable-energy-based power plant business,” Kamarudin explained. (KR/ZH)