Waskita Karya Invited By Sheikh Mohammed Bin Faisal's United Arab Emirates Company To Build Infrastructure At Home And Abroad

JAKARTA - PT Waskita Karya (Persero) Tbk and Mohammed bin Faisal (MBF) Persada have agreed to cooperate in developing roads and other infrastructure, both domestically and internationally.

The agreement was stated in the signing of a memorandum of agreement (MoA) between Waskita Karya and MBF Persada. This MoA was signed by Waskita President Director Destiawan Soewardjono and MBF Persada President Director, Arif Firdaus ,in Jakarta. The signing was also witnessed by the Ambassador of the Republic of Indonesia to the UAE HE Husin Bagis.

"This is a joint step or effort between the company and MBF Persada to commit to mutually beneficial business with the capital experience we have", said Destiawan in a written statement quoted by Antara, Friday, March 11.

Destiawan said that as a manifestation of the synergy between the two companies, a cooperation agreement was signed in terms of developing road infrastructure and other infrastructure.

To be able to pursue and seize business opportunities based on the applicable provisions and procedures according to their respective roles, authorities, duties, and functions.

Destiawan hopes that with this collaboration both parties can increase the effectiveness in their respective roles.

"This cooperation is not only mutually beneficial but also as an added value for both companies while still considering the best business practices and using a commercial principle approach and upholding the principles of good corporate governance (GCG)", he said.

MBF Persada is based in Sharjah, United Arab Emirates, and is part of the MBF Group, a company founded by Sheikh Mohammed bin Faisal bin Khalid Al Qasimi which is engaged in investment and business development in various sectors, including the infrastructure sector.

The signing of the MoA between Waskita and MBF Persada is in the context of exploring cooperation in funding infrastructure projects in which Waskita is the project implementer, investment cooperation, and other potential forms of cooperation.