Jan 18, 2011

Tripatra might win US$500 mio deal

EPC company PT Tripatra Engineering, wholly owned subsidiary of PT Indika Energy Tbk (INDY) might win a US$500 million tender to establish fertilizer production facility V owned by PT Pupuk Kaltim.
An executive close to the deal, as quoted by Bisnis Indonesia daily today, said Tripatra might seal the deal after beating two fiercest contenders PT Rekayasa Industri and PT Inti Karya Persada Teknik.
The final decision hasn't been taken yet as they have to finalize administrative conditions. However, Tripatra might possibly win the deal.
"Rekayasa Industri proposed US$800 million, Inti Karya came with US$750 million deal, hence Tripatra has a chance to win the deal," the source said.
Tripatra Executive Director Joseph Pangalila said so far the company hasn't obtained any notice about the deal. "We are still waiting the final result of beauty contest. So far, there is no notification."

Disclosure: No position at the stock mentioned above.  

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