EGCO, through its wholly owned subsidiary Phoenix Power B.V., successfully subscribed for a 30% equity interest in PT Chandra Daya Investasi (CDI) for USD194 million. CDI is an infrastructure and utility investment company with a portfolio of businesses encompassing electricity generation and distribution, water supply and tank and jetty management. CDI is a subsidiary of PT Chandra Asri Petrochemical Tbk, the largest integrated chemicals and infrastructure solution company in Indonesia.

EGCO’s investment in CDI aligns with its strategic investment plan to select high-quality projects. CDI’s portfolio includes:

• Two operating natural gas-fired combined cycle power plants with a total capacity of 147 MW and an exclusive electricity distribution right within the areas in Cilegon city
• The only integrated water production and water treatment plant in Cilegon city
• An integrated tank rental and jetty management service company with a strategic location in Serang city

The investment in CDI allows EGCO to seamlessly integrate into a promising market In Indonesia with further expansion in Southeast Asia, which align with the Company’s commitment to sustainable growth.

All of CDI’s business and investment portfolios are situated in the strategic areas and the industrial estate in Cilegon and Serang city, Banten province, West Java Island, Indonesia, of which being the primary and largest industrial estate in Indonesia with significant growing industrial demand. CDI owns 2 operating natural gas-fired combined cycle power plants with a total capacity of 147 MW with exclusive electricity distribution right within the area in Cilegon city. CDI also operates the only integrated water production and water treatment plant in Cilegon city. The company has long-term contracts with diverse industrial customers, including reputable regional and international companies. CDI also owns an integrated intermediary tank rental and jetty management service company with a strategic location in Serang city.

The investment in CDI accords with EGCO’s strategic investment plan to select high-quality projects by acquiring shares and operating gas-fired combined cycle power plants, including investment in an infrastructure and utility business considered. This investment allows EGCO to seamlessly integrate into a promising market in Indonesia with further potential expansion in Southeast Asia, together with sustaining long-term partnerships between EGCO and CAP, a leading Indonesian chemical and infrastructure solutions company, and aligning with the Company’s commitment to sustainable growth