JAKARTA (Yosefardi) – State tin miner PT Timah Tbk (TINS) and state construction firms PT Adhi Karya Tbk (ADHI) and Wijaya Karya Tbk (WIKA) set up joint venture for property project in Bekasi, West Java.
Timah holds 51% stake in joint venture while ADHI and WIKA hold 24.5% each. The joint venture company is set to launch its property project in November this year.
Timah expects the joint venture for property to contribute Rp5-6 trillion in next five years. TINS allocates Rp150 billion for its property business expansion.
Timah also allocates Rp200 billion to develop its hospital business in cooperation with PT Pertamina Bina Medika (Pertamedika).