Business Feb. 12, 2012 - 03:45AM JST ( 0 )

TOKYO —

Toyo Engineering has acquired 47% of shares of a major engineering company, PT. Inti Karya Persada Teknik (IKPT), in Indonesia.

IKPT, an engineering company founded in 1982, has a lot of experience in EPC (engineering, procurement and construction) projects in the industrial sectors of oil and gas, petrochemical and chemical such as fertilizer, and infrastructure, including offshore development, LNG, and geothermal power generation.

Having maintained a good relationship for over 20 years since the first collaboration in EPC of fertilizer plant, TOYO and IKPT are now jointly undertaking construction of the large-scale fertilizer plant in Indonesia.

The development of infrastructure in Indonesia is a target of Japan’s public-private joint promotion to export a package of Japanese products, technologies and know-how. As such potential and positive outlook of Indonesian economy is widely acknowledged in the world, the country is now attracting more foreign investments of not only oil & gas companies but manufacturers planning to establish overseas production facilities in Indonesia.

JCN Newswire