The Jakarta Post
Diversified petrochemical giant PT Barito Pacific and Thailand's Siam Cement Group (SCG) have established joint venture firm PT SCG Barito Logistics to serve the two parent companies.
SCG country director for Indonesia Nantapong Chantrakul said on Tuesday the joint venture would begin operations in the middle of October to deliver petrochemical products made by PT Chandra Asri Petrochemical -- owned by both Barito Pacific and SCG.
"We have completed the establishment of PT SCG Barito Logistics in September. First, we will start with the delivery of products to Chandra Asri and next year we will expand the service to other SCG products such as cement and ceramics," he said in Jakarta.
The Siam Cement Public Company Limited president director Roongrote Rangsiyopash said investment for PT SCG Barito Logistics had reached 162 million Baht (US$4.85 million).Read also: Thai owned SCG to acquire more packaging companies
SCG held a 49 percent stake in the logistics company through SCG Cement-Building Materials Limited and Barito Pacific held a 51 percent stake through PT Barito Investa Prima.
"This investment will further increase competitiveness in network coverage and cost efficiency,” he said, adding that the company will also be expanded to serve external clients across Indonesia." (bbn)