Bakrieland plans water business in W. Java
Property developer PT Bakrieland Development plans to enter the clean water business, as part of its efforts to diversify revenue sources to include infrastructure projects, Dow Jones reported Tuesday (5/2/08).
"We will start (a clean water business) in (West) Java," Bakrieland chief executive Hiramsyah Thaib said.
"Infrastructure offers more secure recurring income than the volatile property business," Thaib said, declining to say if the water project will be in Bandung, the capital of West Java - the most populous province of Indonesia.
Plans for the water purification and fluid treatment project are in a preliminary phase and Bakrieland is currently looking for foreign and local partners, said Thaib.
The company hasn't reported its 2007 financial results, but Thaib indicated that both net profit and revenue have likely more than doubled from 2006. Bakrieland made a net profit of Rp67.61 billion in 2006, on revenue of Rp393.23 billion.
"We will start (a clean water business) in (West) Java," Bakrieland chief executive Hiramsyah Thaib said.
"Infrastructure offers more secure recurring income than the volatile property business," Thaib said, declining to say if the water project will be in Bandung, the capital of West Java - the most populous province of Indonesia.
Plans for the water purification and fluid treatment project are in a preliminary phase and Bakrieland is currently looking for foreign and local partners, said Thaib.
The company hasn't reported its 2007 financial results, but Thaib indicated that both net profit and revenue have likely more than doubled from 2006. Bakrieland made a net profit of Rp67.61 billion in 2006, on revenue of Rp393.23 billion.