Indonesian independent power producer Cikarang Listrindo raised IDR 2.4 trillion (approx. USD $180.5 million) from an initial public offering (IPO) on the Indonesia Stock Exchange on Tuesday (14/06). The company is the first independent power producer to go public in Indonesia and the 5th firm to be added on the Indonesia Stock Exchange in 2016. Cikarang Listrindo floated 9.7 percent of its enlarged share capital on the bourse. On its trading debut its shares rose 2.6 percent from IDR 1,500 to IDR 1,540 a piece.

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A consortium consisting of Indonesia's state-owned oil & gas company Pertamina and Japan-based general trading company Marubeni Corp has teamed up with American multinational conglomerate corporation General Electric (GE) to bid for success in a USD $2 billion power plant project in Bekasi (West Java) tendered by Indonesia's state-owned utility company Perusahaan Listrik Negara (PLN). Reportedly, this 1,600 MW power plant, named Jawa I, is set to become the largest gas and steam power plant in Indonesia.

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US multinational conglomerate General Electric (GE) is exploring possibilities to establish a regional business hub in Indonesia due to the promising perspectives of both Indonesia and other countries in Southeast Asia. Currently, Indonesia is the largest market for GE in Southeast Asia, accounting for roughly 30 percent of the company's revenue in this region (but Indonesia's regional peers are developing rapidly as well). However, GE Indonesia CEO Handry Satriago said that human resources form a problem.

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General Electric (GE), one of the largest American multinational conglomerates, has already started to show its commitment to invest in Indonesia. Over the course of three years, the company will invest USD $300 million in Southeast Asia's largest economy. CEO of General Electric Indonesia, Handry Satriago, stated that - although the year 2013 was a year full of challenges - the company managed to record revenues worth about USD $1 billion and aims to reach double-digit growth in 2014.

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