South Korean firm eyes 34 percent stake in Indonesia’s E-Pertagas

Seoul, July 24 (IANS/WAM) South Korean gas supplier Samtan Co. plans to buy 34 percent equity shares in Indonesia’s LPG producer E-Pertagas.

E-Pertagas is a joint venture between South Korean LPG provider E1 Corp and Pertagas, a subsidiary of Pertamina, Indonesia’s state-owned oil and gas company.

Samtan and Pertamina are to spend $190 million to build an LPG plant with an annual production capacity of 240,000 tonnes by 2012 in southern Sumatra island in western Indonesia, the Korean company announced this Friday.

Samtan operates the Pasir coalmine with an annual production capacity of 30 million tonnes, Indonesia’s third-largest coalmine in eastern Kalimantan.

–IANS/WAM