RATCH Group completes $590.67m investment in Indonesia’s Paiton Energy

The company acquires 36.26% shares in the Indonesian firm.

RATCH Group completed its investment in the Paiton Energy Thermal Power Plant in Indonesia, following the payment of $590.67m.

The company purchased shares to invest 36.26% in PT Paiton Energy and Minejesa Capital B.V., Paiton Energy Thermal Power Plant Business.

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“This is in line with the Company’s investment and partnership strategies by providing the opportunities to jointly invest in power and related businesses for the Company’s Group in the future,” RATCH said in a statement.

RATCH also aims to invest 65% in the power plant operation and maintenance business of IPM Asia Pte.