Ometraco, Siemens tie up

JAKARTA (JP): PT Trafindo Perkasa, a subsidiary of the publicly-listed Ometraco Corporation, has signed a joint venture agreement with Siemens Aktiengesellschaft of Germany to manufacture fiber optic telecommunication cables.

Ometraco announced here Saturday that the joint venture company, PT Siemens Kabel Optik, will have authorized capital of US$5.7 million, with paid-up capital of US$5 million.

Trafindo will subscribe 49 percent of the capital and Siemens the other 51 percent.

Siemens Kabel Optik will produce both land and submarine fiber optic cables. "It will be the fist company to produce submarine fiber optic cables in Indonesia," the announcement said.

Siemens, one of the world's leading companies in the field of electrical, electronics and telecommunications, will provide technical assistance in establishing the manufacturing facilities and testing the fiber optic cable production. (rid)