PT Rukun Raharja Tbk (RAJA) cooperates with PT Pertamina Gas to carry out the construction and operation of the Balam-Bangka-Dumai pipeline from the Minai-Duri-Dumai (Rokan block) corridor with a funding requirement of US$300.62 million. 

Referring to the company publication, on Friday (19/3), Rukun Raharja and Pertagas have a participation of 25% and 75% respectively of the project's funding contribution. Thus, Rukun Raharja's share was US$75.15 million.

In the company financial statements ending in September 2020, the company's transaction value reached 62% of the company's total equity, amounting to US$121.080 million. Therefore, this transaction requires the company's shareholders' approval at the EGMS on April 27, 2021.

Rukun Raharja views the transaction as in line with the company and Pertagas' goals, especially in facing the rapid growth in the transportation of oil and natural gas by pipeline.

With this transaction, the company hopes to increase future profits and boost the company's investment attractiveness.