Hinduja Group ties up with Multi Eka Karma<\/p>\n
JAKARTA (JP): The London-based Hinduja Group, which last year
\nbooked around US$15 billion in total turnovers, has chosen PT
\nMulti Eka Karma, the investment holding company of the General
\nSudirman Foundation, as its strategic partner to develop
\ninvestment projects in Indonesia.<\/p>\n
\"Hinduja is greatly interested in several of the projects we
\nhave been developing over the past two years,\" said Soetjahjo
\nHasnoputro, the vice president of Multi Eka Karma, before
\nwelcoming a 20-member IndusInd delegation here yesterday.<\/p>\n
The high-powered business delegation, which is making a two-
\nday visit, is led by Srichand P. Hinduja, chairman of the Hinduja
\nGroup, which has large stakes in oil, power generation,
\ninformation technology and media communications, automobile and
\ntransport, chemical, pharmaceutical and banking.<\/p>\n
The delegation, besides representing the Hinduja Group, also
\nincludes top executives of the IndusInd Group and Finolex Group
\nand several other major Indian conglomerates.<\/p>\n
\"We feel honored to have been selected by Hinduja as its
\nstrategic partner because we are developing a number of projects
\nin telecommunications, media communications, power generation,
\nmining, lube oil and several other areas of infrastructure,\"
\nadded Soetjahjo.<\/p>\n
The General Sudirman Foundation, the founder and owner of PT
\nMulti Eka Karma, was set up in December, 1989, by the minister of
\ndefense and security and the armed forces commander in order to
\nhelp the government improve the social welfare of armed forces
\nmembers.<\/p>\n
He said Multi Eka Karma has signed a cooperation agreement
\nwith the Hinduja Group as an umbrella pact for their business
\npartnerships in various investment projects.<\/p>\n
The cooperation, according to Multi Eka Karma's Chief
\nOperating Officer Sunil H. Bharwani, will \"provide us with access
\nto technology, financing and the international market.\"<\/p>\n
Multi Eka Karma acts as the catalyst for Hinduja to facilitate
\nits investments in Indonesia's resources and Hinduja in turn
\nserves as the catalyst for Multi Eka to gain an international
\ncompetitive edge, Soetjahjo added.<\/p>\n
\"For example, we are preparing a $50 million lube oil blending
\nplant at Cilegon, West Java, with a designed capacity of 25,000
\nkiloliters a year and Gulf Oil International, a subsidiary of
\nHinduja, will be one of the partners\" Soetjahjo said.<\/p>\n
The other shareholding partner in the lube oil plant is PT
\nElnusa, a subsidiary of the state-owned Pertamina oil company,
\nwhich is also active in telecommunications and general
\ncontracting businesses.<\/p>\n
He said Multi Eka is developing several other projects in
\ncooperation with other international companies.<\/p>\n
One of them is the diamond mining and jewelry manufacturing
\nventure in Martapura, S. Kalimantan, in a joint venture with the
\nB.Vijay Group, one of the world's largest diamond manufacturers.<\/p>\n
\"We are also exploring geothermal steam for power generation
\nin the Jambi province in cooperation with Caithnness Energy,\"
\nSoetjahjo said.<\/p>\n
Multi Eka, he added, has also signed cooperation agreements
\nwith PT Satelindo, one of the providers of international
\ntelecommunications services and global system for mobile
\ncommunications (GSM). The cooperation accords will establish
\nlocal, multi-point distribution systems, the infrastructure,
\nmarketing and distribution of Satelindo's GSM network as well as
\na satellite backbone communications technology network. (vin)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/hinduja-group-ties-up-with-multi-eka-karma-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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