Bakrie Construction

Bakrie Construction (formerly Trans Bakrie) was established in 1985 as a Joint Venture between two private companies, Bakrie & Brothers of Indonesia and Transfield of Australia. Initial shares holdings were 51% Transfield and 49% Bakrie & Brothers. Over the years and in accordance with JV agreement the share distribution was changed to 51% Bakrie & Brothers and 49% Transfield. Due to decline in construction industry between 1997 and 2002, Transfield sold their construction divisions world wide and as the consequence sold their shares in Trans Bakrie. As the result of having 100% ownership, the company change the name to Bakrie Construction in 2003.