Goldcup Electric Apparatus Co., Ltd. has entered into an agreement to form a 55:45 joint venture (JV) with PT Bukaka Teknik Utama Tbk, to offer products for the construction of Indonesia's national grid. The total investment in the JV is valued at IDR 560,000 million ($42 million). As part of the transaction, the factory will be built in Indonesia and the products will be supplied to Indonesia's national electric power company.