Business and Investment
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Indonesian major tycoons set to invest in new capital city development projects
Domestic investors are showing a growing interest in investing in the Indonesian Capital City (IKN). This enthusiasm involves ten prominent entrepreneurs with a combined investment value of IDR 20 trillion.
Petrindo Jaya Kreasi acquires full ownership of Multi Tambangjaya Utama in a strategic move
PT Petrindo Jaya Kreasi (CUAN), a company under the conglomerate Prajogo Pangestu, has successfully acquired all the shares of PT Multi Tambangjaya Utama a subsidiary of PT Indika Energy Tbk (INDY), equivalent to 2.26 billion shares.
Indonesian consortium to distribute eco-friendly biomethane via PGN's gas pipeline network
An Indonesian consortium led by Harry Budi Sidharta, PT Pertamina Gas Negara Tbk (PGN)'s Director of Strategy and Business Development, is set to utilize the natural gas pipeline network of PGN to distribute biomethane derived from Palm Oil Mill Effluent (POME) in South Sumatra.
Indonesia grapples with high costs and debt guarantees in Jakarta-Bandung high-speed rail project
The Jakarta-Bandung High-Speed Rail (KCJB) project has once again come under public scrutiny in Indonesia due to the government's willingness to guarantee debt payments to China for the project.
South Pasific Viscose invests US$ 100 million in environmentally friendly rayon fiber
The Ministry of Industry (Kemenperin) appreciates PT South Pacific Viscose (SPV) for its investment of US$100 million (IDR 1.5 trillion) for environmentally friendly viscose rayon product lines. PT SPV is the largest producer of rayon fibers in Indonesia and is a subsidiary of the Austrian company Lenzing Group.
Repsol and ExxonMobil eye business opportunities in carbon capture and storage in Indonesia's oil fields
International oil companies, Repsol and ExxonMobil Indonesia, are exploring business opportunities in the field of carbon capture and storage (CCS) services within Indonesia's oil and gas sector. This move aligns with the discovery of favorable carbon storage capacities.
Illegal imports and predatory pricing blamed for 70% drop in logistics industry revenue
Teten Masduki, the Minister of Cooperatives and Small and Medium Enterprises, revealed that around 70% of the income of the logistics industry has plummeted.
Challenges persist in accelerating Indonesia's geothermal energy growth
Entrepreneurs in the geothermal sector have revealed that the growth of installed capacity for geothermal power plants (PLTP) in Indonesia remains sluggish, currently reaching only 40 MW per year. Several challenges are seen as hindrances to the expansion of this clean energy source.
Amman Mineral signs LNG supply agreement with Pertamina
Amman Mineral Nusa Tenggara (AMNT), a subsidiary of PT Amman Mineral Internasional Tbk (AMMN), has entered into a preliminary agreement with PT Pertamina. This agreement was mutually signed on Wednesday, September 20, 2023.
Energy and Mineral Resources Ministry to auction three oil and gas blocks in Papua
The Ministry of Energy and Mineral Resources (ESDM) has announced the offering of Phase III Oil and Natural Gas Working Areas (WK Migas) for the year 2023. These three oil and gas blocks are all located in the Papua region.
China's investment in Indonesia's gas sector fuels clean energy transition
Ministry of Energy and Mineral Resources (ESDM) has extended an invitation to Chinese oil and gas companies to invest in the expansion of gas development projects in Indonesia.
Indonesia's Stock Exchange (BEI) receives license to operate carbon exchange
The Indonesia Stock Exchange (BEI) has been granted a license to operate a carbon exchange by the Financial Services Authority (OJK). It is believed that the success of the carbon exchange in Indonesia is key to global decarbonization.