Business and Investment
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Pupuk Kaltim set for IPO in 2023
The Ministry of State-Owned Enterprises has planned to launch an IPO for its fertilizer company PT Pupuk Kalimantan Timur (Pupuk Kaltim) in the first semester of 2023. The IPO proceeds will finance the construction of a urea plant with a production capacity of 1.15 million tons and 1 million tons of methanol per year.
Galva Technologies allocates IDR 80 billion of Capex for 2023
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.
Spindo to prepare IDR 250 billion of Capex for 2023 toward machine procurement
PT Steel Pipe Industry of Indonesia Tbk (Spindo) has prepared IDR 250 billion of Capex for 2023 for machine procurement and machine rejuvenation to reach its sales target of 500,000 by 2025.
Bayan Resources absorbs US$ 166.2 million Capex, to increase coal production in 2023
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.
TOBA sets US$ 50-60 million Capex for 2023
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.
Medco prepares US$150 million Capex for South Natuna Block
Oil and gas mining company PT Medco Energi Internasional Tbk has prepared US$150 million in capital expenditure (Capex) to develop the South Natuna Sea Block B Production Sharing Contract (PSC).
RMKE allocates IDR 1 trillion Capex for 2024-2026
Coal logistic service provider PT Rantai Mulia Kencana Energy Tbk (RMKE) has allocated Capex of IDR 1 trillion from 2024 to 2026 to build 155 kilometers (km) road infrastructure. The infrastructure will support the hauling service and mining activities.
Rhenus shows interest in Nusantara new capital project
Rhenus Logistics Indonesia has shown interest to take part in Indonesia’s megaproject to relocate its capital from Jakarta to Nusantara new capital (IKN) in East Kalimantan. The company, which is part of the German-based Rhenus Group, plans to use its expertise in domestic seafreight movements for the project.
Link Net to expand business outside Java
Broadband internet and cable TV provider PT Link Net Tbk (LINK) will expand its home passes outside Java Island and seek potential markets in other islands' cities for its home passes.
Alliance to commit US$ 36 million to end plastic waste pollution in Indonesia
The Alliance to End Plastic Waste (Alliance) announced a US$ 36 million commitment to support Indonesia in reducing 70% of plastic pollution in the ocean by 2025. It also commited to support Indonesia to achieve almost zero plastic waste by 2040. The funding aims to develop a portfolio of solutions and sustainable projects in the country. The projects will catalyze up to five times public and private sector investment to end plastic waste in the environment. The announcement was made during the Tri Hita Karana (THK) Forum on the sideline of the G20 Summit in Nusa Dua, Bali, on November 14, 2022.
Four energy agreements signed during B20 Summit 2022
The B20 Summit on 2022 concluded successfully on November 14, 2022, in Nusa Dua, Bali, for host Indonesia as the country's major companies sealed four green energy agreements with foreign investors.
Indonesia Investment Authority inks deal with CATL, CMB International on US$ 2 billion in EVs
Indonesia Investment Authority (INA), Contemporary Amperex Technology Co., Limited (CATL) and CMB International Capital Corporation Limited (CMBI) have signed a Memorandum of Understanding (MoU) to carry out investment, fund establishment and other cooperation in electric vehicle supply chain for US$ 2 billion.