Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Indonesia
Location: Java, Sumatra, Kalimantan, Sulawesi, Bali and West Nusa Tenggara
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Active
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-09-20
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: ANEKA GAS INDUSTRI, PT
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
  • Industry and Trade
Investment Type(s): Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 11.04 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 64.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-08-02
Disclosure Date: 2016-09-30
PT Aneka Gas Industri Tbk
IFC-38908

Project Description
The project involves an equity investment of approximately $11 million in PT Aneka Gas Industri Tbk (http://www.anekagas.com, hereafter referred to as "Aneka Gas" or the "company"), the largest producer and distributor of industrial gases in Indonesia with approximately 30% market share. This investment is in conjunction with an Initial Public Offering ("IPO") expected to be completed on September 28, 2016, with the listing of the company on the Indonesia Stock Exchange. The Company is owned by the privately-held Samator Group (the “Sponsor”) of Indonesia. Mr. Arief Harsono founded the Samator Group, which focuses on industrial gases, in 1975 with the establishment of a small acetylene plant in Surabaya, East Java under PT Samator. The Sponsor took over full ownership of Aneka Gas in 2004, and has significantly expanded the Company which now has 44 gas plants and more than 80 filling stations nationwide, serving far flung areas of Indonesia and employing over 2,500 people. The Company is currently wholly-owned by Mr. Arief Harsono and his family through the Indonesian companies PT Samator (37.0%) and PT Aneka Mega Energi (57.0%), and individually by Mr. Arief Harsono (4.4%), his brothers Mr. Heyzer Harsono (0.2%) and Mr. Rasid Harsono (0.2%), and his son Mr. Rachmat Harsono (1.2%). Upon completion of Aneka Gas’ IPO, the Sponsor’s ownership in the Company is expected to decrease to approximately 70%.
Investment Description
Contact Information
Contact Person: Mr. Rachmat Harsono Company Name: PT Aneka Gas Industri Tbk. Address: Gedung UGM Samator Pendidikan Tower A, 6th floor. Jl. Dr. Sahardjo No. 83, Manggarai, Tebet, Jakarta Selatan 12850, Indonesia Email: mailto:rachmat@anekagas.com Phone: +62 21 8370 9111 Facsimile: +62 21 8370 9911 ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/