JAKARTA (Yosefardi) – PT Citra Tubindo Tbk (CTBN), a company controlled by Kris Wiluan family, plans to build green pipe in Batam, Riau island, which will cost US$200 million, equivalent Rp2 trillion.
The realization of this plan depends on the readiness of billet (raw material) supply in the country. Currently production of casing and tubing depends on imported raw materials.
CTBN booked net profit of US$5.68 million in first quarter of this year on revenues of US$33.45 million. Its assets totaled US$234.95 billion while liability amounted US$83.9 million.