Noble unit investing in 3 Indonesian companies

Singapore

COMMODITY trader Noble Group is taking stakes in three companies which together will form a fuel storage, supply and distribution network in Indonesia's Sumatra and Java regions to meet demand from the palm oil, power, and mining industries.

The move involves its wholly owned Indonesian subsidiary, PT Equatorial Coal Abadi, subscribing for shares for a 51 per cent stake in PT Sriwijaya Inti Daya (SID) and a 49 per cent stake each in PT Sriwijaya Multi Terminal (SMT) and PT Karimata Baru Terminal (KBT).