Business and Investment
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Indonesia discovers large gas deposits in Andaman waters
Indonesia has made a great discovery of gas deposits in Andaman waters, Aceh province, following the first discovery of 5.6 Trillion Cubic Feet (TCF) of gas and condensate and the latest discovery of found 6 TCF.
Businesses wary of Red Sea conflict, impacts on export and import
The escalating conflict in the Red Sea has led to a surge in logistics costs for exporters in distributing goods, while importers have not yet seen significant impacts from the geopolitical situation in the Middle East.
Chandra Asri builds EV Battery Raw Material Plant, Invests Rp12.45 Trillion
PT Chandra Asri Pacific Tbk. (TPIA) is set to construct a Chlor Alkali-Ethylene Dichloride (CA-EDC) plant that will produce a key raw material for electric vehicle (EV) battery pack components – caustic soda, totaling 400,000 tons per year. The construction of this new plant is scheduled to begin in early 2024, with Chandra Asri allocating US$800 million or approximately Rp12.45 trillion for the project, which is expected to take 28 months.
Indonesia struggles to achieve 2025 energy mix target
Minister of Energy and Mineral Resource Arifin Tasrif says Indonesia’s energy mix program has not increased significantly in 2023 that Indonesia needs to strive to get close to the target of 23 percent energy mix in 2025. Energy mix program is meant to reduce the use of fossil fuel based energy and increase the use of renewable energy.
Giant Dam soon to supply water to Rebana Region
The Ministry of Public Works and Housing (PUPR) has announced the completion of the Rp 2.06 trillion (US$ 133 million) Cipanas Dam in Sumedang regency, West Java, that is expected to contribute to water, food and energy security while simultaneously fostering new economic growth for its surrounding communities.
Indonesia discovers lithium deposit in Central Java
The Geological Agency of the Ministry of Energy and Mineral Resources (ESDM) has confirmed the discovery of a 'rare treasure' in the form of lithium as previously claimed by Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan.
Inalum to invest US$ 5.7 Billion until 2030
Aluminum producer PT Indonesia Asahan Aluminium, or Inalum, has revealed that the company will invest up to Rp 90 trillion or US$ 5.7 billion until 2030.
Gas producer SBMA plans massive business expansion in 2024
Gas producer PT Surya Biru Murni Acetylene (SBMA) is massively boosting this year its business expansion, particularly in Kalimantan and Eastern Indonesia, due to strong market share.
House leaks divestment price of Vale shares offered to MIND ID
Chairman of the House of Representatives (DPR) Commission VII overseeing energy and mineral resources, Sugeng Suparwoto, says discussion on the final decision regarding shares acquisition of PT Vale Indonesia (INCO) by Mining SOE Holding MIND ID is in stalemate due to bidding technicalities.
Suboptimal gas absorption affects production at JTB gas field
PT Pertamina EP Cepu, a subsidiary of oil and gas giant Pertamina, has revealed that it has to decrease production at the Jambaran Tiung Biru (JTB) gas field in Bojonegoro, East Java. Endro Hartanto, CEO of Pertamina EP Cepu, said the decision to cut production at JTB gas field was due to the limited absorption capacity of several contracted buyers.
Ministry initiates design for Immersed Tunnel in IKN
The Ministry of Public Works and Housing has embarked on the design phase for the first immersed tunnel road project in Indonesia, located in the new Capital city of Nusantara (IKN).
JTB gas production faces constraints as buyer uptake remains suboptimal
The gas production from the national strategic project (PSN) Jambaran Tiung Biru (JTB) is currently hovering around 110 million standard cubic feet of gas (MMscfd), significantly below its production capacity of 192 MMscfd. Endro Hartanto, CEO of Pertamina EP Cepu, revealed that the company had to curtail production from the JTB field due to limited buyer capacity.