An energy trading company, PT AKR Corporindo Tbk (IDX: AKRA) open a possibility to build an electric vehicle (EV) charging station in its refueling station - Photo by IStock

JAKARTA (TheInsiderStories) – An energy company, PT AKR Corporindo Tbk (IDX: AKRA) open a possibility to build an electric vehicle (EV) charging station in its refueling station, said the director today. As know, government is incessantly develop the electric battery across the archipelago.

According to the director, Suresh Vembu, their office is ready to build EV charging stations joint with British Petroleum (BP), which has operated the largest electric vehicle charging operation in the United Kingdom. In addition, their station also has a large enough area for electric cars to park and charge up to 40 minutes.

Now, AKRA waiting for the penetration of electric cars before implementing the target. So far, the company managed 16 fuel stations since 2018 and most in West Jakarta. Both parties aimed to build 350 gas station outlets in 10 years time. In 2021, the issuer plans to build 30 – 35 new gas stations. When combined to the fuel stations, now the company owned 153 stations.

Beside EV station, said Vembu, the company also plan to enter power business as part of its diversification business. Currently the producer has talked with the potential investors to realize the project. The producer plans to build around 500 megawatts coal gas-fired power plant with an investment of approximately $400 million.

Then, through its unit PT Anugerah Lubrindo Raya where AKR Corporindo owned the majority stakes planned to expand the products by acquired a local lubricants company. For avtur product, he continued, the company have launched one outlet in Morowali, Central Sulawesi and plan to open other stores in several airports in Eastern Indonesia.

Together with PT Pelabuhan Indonesia III has built the Java Integrated Industrial and Port Estate in Gresik, East Java. The 3,000 hectare project will be built in three stages since 2013. In the first phase has been realized in 2018, the project has absorbed funds around Rp5 trillion ($357.14 million).

The second phase of project development has been carried since 2019 until 2022 in the areas 265 hectares of land. Vembu expect the new business provide recurring income for AKRA by 20 percent on a consolidated basis. The planned the industrial areas have multipurpose clusters covering 45 hectares and clean blocks of 80 hectares for food and pharmaceuticals.

Then the 60 hectare liquid material cluster is for the CPO and liquid chemical refining industry. The 100 hectare smelter cluster and multipurpose II cluster. The company will also build a port area on 400 hectares of land and a housing area of ​​800 hectares.

AKR Corporindo founded as a small chemical trading business over 55 years ago in Surabaya, East Java, and now grown became one of the largest private sector distributors of basic chemicals, petroleum, logistics, and supply chain solutions.

Soegiarto Adikoesoemo, entrepreneur and businessman from Surabaya, started this business in 1960 and later established PT Aneka Kimia Raya on Nov. 28, 1977 before moved its headquarters to Jakarta in 1985. In 1994, he opened a new chapter in its business development by becoming a public listed company on Indonesian Stock Exchange.

In 2005, the issuer became the first national private company to distribute non- subsidized fuel. AKRA continued expanding its network and now has storage tanks and terminals in 10 major sea ports and river ports throughout Indonesia. The issuer also owned a fleet of self-propelled oil barges, petroleum, and chemical trucks delivering petroleum and basic chemicals to over 2,000 industrial companies across the nation.

For subsidized fuel, in 2017, the firm was reappointed to distribute subsidized petroleum for motor vehicles and fisheries. In 2011, AKR Corporindo along with its joint venture partner, Royal Vopak, commissioned the largest independent petroleum storage terminal, PT Jakarta Tank Terminal in Tanjung Priok Port.

Further information, Haryanto Adikoesoemo, the president director, announced he had made additional purchases of the publicly listed‘ shares on Jan. 21. He has bough four million shares or the equivalent of 0.1 percent of the total shares at Rp3,167.42 a unit. In total, he spent Rp12.66 billion for the transactions and pocketed 0.26 percent ownership.

US$1: Rp14,000

Written by Editorial Staff, Email: theinsiderstories@gmail.com