ASTRINDO EXPANDS INTO WASTE-TO-ENERGY, STRENGTHENING ESG COMMITMENT

PT Astrindo Nusantara Infrastruktur Tbk (“Astrindo” or the “Company”, or “BIPI”), an investment company focused on integrated energy infrastructure, has taken a strategic step to strengthen its Environmental, Social, and Governance (ESG) commitments. In a press release dated 8 April, the Company has signed a Share Sale and Purchase Deed (AJB) with PT Indoplas Makmur Lestari, a subsidiary of PT Maharaksa Biru Energi Tbk (stock code OASA), to acquire a 20% stake in PT Indoplas Energi Hijau (IEH), a company engaged in converting waste into clean energy. Furthermore, the Company has also signed a Share Sale and Purchase Deed (AJB) with PT Maharaksa Kapital Indonesia, a business group from PT Maharaksa Biru Energi Tbk (stock code OASA), to acquire a 20% stake in PT Maharaksa Energi Hijau (MEH), a business entity focused on green energy and environmental technology. This signing represents a strategic step for the Company in expanding its participation in sustainable waste-to-energy processing projects. Through IEH and MEH, the Company will develop and implement Waste-to-Energy projects, which are expected to make a significant contribution to environmental management as well as the provision of alternative energy. The Company’s entry into IEH also opens exposure to the development of Waste-to-Energy Power Plant (PLTSe) projects in Indonesia. Through its business consortium, IEH is involved in developing a Waste-to-Energy Power Plant project in South Tangerang with an investment value of around Rp2.6 trillion, designed to have a processing capacity of up to 1,100 tonnes of waste per day and potential electricity production of around 25 MW. This project forms part of an environmentally based energy solution that is expected to be able to reduce the burden of urban waste management while producing clean energy. Michael Wong, the Company’s Director, said, “This is a strategic step for Astrindo to expand participation in Indonesia’s clean energy ecosystem. We view waste-to-energy not only as a business opportunity but as part of a real solution in supporting the national energy transition. Going forward, Astrindo will continue to develop a sustainable energy portfolio that can create long-term value for shareholders and stakeholders.” This share acquisition reinforces Astrindo’s direction in diversifying into the green energy sector, complementing its previously held energy portfolio. Furthermore, the Company opens opportunities to expand investments in other renewable energy projects, including the development of gas-based energy infrastructure and clean energy.