Indika Energy forms subsidiary to expand into the bio-based chemical industry
In Indonesia, Indonesia Business Post reported that energy company PT Indika Energy (INDY) has established a new subsidiary, PT Tripatra Bioenergi Angkasa (TBA), to expand into the chemical industry.
According to a disclosure submitted to the Indonesia Stock Exchange (IDX), TBA will focus on the production of basic organic chemicals derived from agricultural products.
The report stated that TBA was formed through INDY’s two subsidiaries, PT Tripatra Engineering (TPE) and PT Tripatra Multi Energi (TIME), in which INDY holds a 99 percent ownership stake both directly and indirectly.
Category: Fuels
