International Finance Corporation (IFC), a member of the World Bank Group, participated in the Aneka Gas Industrys initial public offering, with an US$11 million equity investment.

“The investment will support the development of new industrial gas plants and distribution facilities throughout Indonesia, including the islands of Java, Sumatra, Kalimantan, Sulawesi, Bali and West Nusa Tenggara,” Country Manager IFC Indonesia Azam Khan stated in a press release, received here on Thursday.

Indonesias largest industrial gas company, PT. Aneka Gas Industri Tbk (Aneka Gas), produces a variety of industrial gases, including oxygen, nitrogen, and argon, serving various sectors, including agribusiness, consumer goods, heavy industry, and Small and Medium Enterprises (SMEs).

While the company has 30 per cent of the national market share in overall industrial gas production, it is pivotal to the healthcare sector in particular, claiming 75 per cent of the market share in the provision of medical gases and related equipment and services to hospitals and other health facilities.

“As the only industrial gas player with a nationwide distribution network, Aneka Gas is competitively positioned to take advantage of growing demand throughout Indonesia, especially in the underdeveloped provinces,” Khan remarked.

“Businesses supporting the consumer and SME sectors are key drivers of job creation and growth for the economy, particularly in less-developed frontier regions,” he stated, adding that companies serving the healthcare sector were another important focus for the IFC, given the Indonesian governments goal of supplying universal health coverage to the population by 2019.

Vice President Director of Aneka Gas Rachmat Harsono said the company had a well-diversified customer base, which ranges from hospitals and food & beverage companies to automotive and construction businesses.

In addition, the company provides growth opportunities across the spectrum of the nations economy.

Present in Indonesia since 1968, IFC has financed and mobilized over $6.6 billion for private sector projects over the last 47 years.

Through a combination of investment and advisory services, IFC works to reduce the impact of climate change, increase rural incomes, and promote sustainable urbanization in Indonesia.

source: antaranews