The Electricity Generating Public Company Limited (SET: EGCO) has informed the Stock Exchange of Thailand that Phoenix Power B.V. (PP), a wholly owned subsidiary of EGCO domiciled in the Netherlands, holding stakes in PT Chandra Daya Investasi (CDI), successfully made an additional capital injection of $95 million into CDI on April 11, 2025.
The transaction was approved by the Board of Directors of EGCO in the Meeting No. 2/2025 on February 28, 2025.
This capital injection was made alongside a $90 million capital contribution by PT Chandra Asri Pacific Tbk (Chandra Asri Group), Indonesia’s leading energy, chemical, and infrastructure solutions company. The combined proceeds of $185 million will be used to support the continued development and expansion of CDI’s infrastructure and utility businesses.
CDI is a utility and infrastructure investment platform and well-positioned to become a leading utility and infrastructure player in Indonesia and ASEAN.
CDI’s businesses and investment portfolios encompass energy, water, port & storage, and logistics sectors which are strategically situated in Cilegon and Serang city, Banten province, West Java Island — Indonesia’s primary and largest industrial estate with significant growing demand.
CDI’s portfolio comprises the following:
- 2 operating Combined Cycle power plants with a total capacity of 147 MW with exclusive electricity distribution rights in Krakatau Industrial Estate, Cilegon city.
- The sole integrated water production and water treatment plant in Cilegon city with long-term contracts serving industrial customers both in regional and international companies.
- An integrated intermediary tank rental and jetty management service company.
- Vessel operation and management specialized for transporting oil, chemicals, and natural gas.
Investing in CDI boosts long-term profitability through stable cash flows from its strong presence in the power and utility sectors in one of Indonesia’s large industrial hubs, aligning with the “Triple P” strategy focused on power and energy-related investments.
This includes growth opportunities through greenfield projects and mergers & acquisitions, complementing the company’s strategy to diversify and strengthen its energy portfolio, ensuring sustainable shareholder returns.
Additionally, the investment reinforces the strategic collaboration between EGCO and Chandra Asri Group, underscoring EGCO’s confidence in CDI’s long-term growth potential and its continued commitment to expanding high-quality, environmental-responsibility and safety-focused infrastructure platforms across Southeast Asia.
