Aggreko buys Indonesian power rental company KBT
UK-based Aggreko has purchased Indonesian power rental company PT Kerta Bumi Teknindo (KBT) for around $32.8m.
The acquisition follows the opening of Aggreko's Indonesia PT Jakarta Service Centre last year and is expected to enable the company to expand its operations and investment in Indonesia.
Currently, KBT has around 200MW of diesel and gas contracts on hire with the local utility company PLN. The latest deal has also added 140MW worth of contracts to the company's portfolio that Aggreko has contracted.
Aggreko's chief executive Chris Weston said: “Aggreko has operated in Indonesia since 2002 and has since invested considerably in building our in-country capacity, both in terms of generation fleet and our team of highly-skilled, local employees.
“Indonesia continues to improve electrification across its vast geography, and Aggreko is committed to supporting these efforts, by supplying world leading technology in mobile, modular power generation, to industrial users and the state utility.”
In April last year, Indonesia's president Joko Widodo visited London to boost the government’s strategy of expanding the economic and social development into the remote areas of the country.
Within the framework of the visit, Aggreko made a formal commitment to the Indonesian Government to invest more than £25m into its operations in the country to help support the policy, which also seeks to improve the country’s energy supplies.
Aggreko's Asia managing director Benny Goh said: “KBT has developed a strong customer base across the Indonesian utility sector in the last 24 years, maintains very close relationships with customers and is well known for delivering excellent customer service.”
Aggreko currently provides modular, mobile power and temperature control solutions for the oil and gas, petrochemical and refining, utilities as well as other sectors.