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The Attorney General’s Office (AGO) has charged six former executives of PT Antam in a corruption case linked to the management of 109 tons of gold between 2010 and 2022, resulting in state financial losses of Rp3.31 trillion (US$203 million). Chief prosecutor Syamsul Bahri Siregar stated that the defendants acted collectively to enrich themselves and others, harming state finances. The indicted officials include former vice presidents and general managers of Antam’s Precious Metal Unit. Additionally, seven private defendants linked as gold refining service customers are being tried separately. The charges involve violating anti-corruption laws.
PT Kilang Pertamina Internasional will produce Sustainable Aviation Fuel (SAF) from used cooking oil (UCO) after securing ISCC-EU certification. SAF, with over 90% lower carbon emissions, will be produced at the Cilacap Refinery using a domestically developed catalyst.
PT Kilang Pertamina Internasional (KPI), a subsidiary of PT Pertamina, is set to produce Sustainable Aviation Fuel (SAF) using used cooking oil (UCO) after obtaining International Sustainability and Carbon Certification (ISCC-EU) under the CORSIA framework. KPI’s Cilacap Refinery secured this certification in December 2024, ensuring compliance with global sustainability standards. The facility has produced 100% vegetable-based renewable diesel since 2022, and SAF production from UCO is planned for early 2025. SAF will reduce carbon emissions by over 90% compared to fossil fuel and support community programs. The innovation involves a new catalyst developed domestically by Pertamina’s R&D team.
Yusri Usman, Executive Director of CERI, plans to sue oil and gas stakeholders for non-compliance with Local Content (TKDN) obligations, threatening domestic industry survival. Despite existing regulations mandating TKDN, non-compliance persists. Without change by January 2025, CERI will file a lawsuit to enforce regulations and protect local industries.
PT Elecmetal Longteng Indonesia is investing US$40 million in a grinding ball plant in Batang, Central Java, targeting 200,000 tons annual output, with 30% for local use and 70% for export, mainly to Australia. The plant combines ME Elecmetal’s technology and Longteng’s expertise, aiming to lead the Indonesian market. Backed by KITB and the government, it will boost the local economy, create jobs, and support industrial growth in Indonesia’s expanding metal sector.
Coal and electric vehicle company PT TBS Energi Utama Tbk (TOBA) – which 10% of shares are owned by Coordinating Minister for Maritime Affairs and Investment Luhut Panjaitan – has allocated between US$ 50 million and US$ 60 million of capital expenditure (Capex) for the year 2023. The Capex would be allocated for the development of the new EVs and the renewable energy with its subsidiaries.
PT Bayan Resources Tbk. (BYAN) has absorbed capital expenditure (Capex) of US$ 166.2 million on the construction of a coal transport road, overland conveyor and a barge loading facility in Muara Pahu, East Kalimantan. The company seeks to increase its 2023 coal production targets to over 45 million tons, an increase compared to 2022 which was below 40 million tons.
Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia announced that investment realization from January to September 2022 has reached IDR 892.4 trillion – or 74.4% of the target – both foreign and direct investments. He was upbeat that his ministry could reach a targeted investment of IDR 1,200 trillion for the year 2022.
PT Galva Technologies Tbk (GLVA) has planned to allocate IDR 80 billion of Capex for 2023 to strengthen the company’s recurring income through managed services business model.
