Corporate Affairs
Uncovers the dynamics of state-owned enterprises and corporate giants with a vibrant and insightful approach, making the corporate world both fascinating and accessible.
President approves Huayou as new lead in EV battery project, replaces LG Energy Solution
President Prabowo Subianto summoned Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia to the Merdeka Palace on Thursday, May 22, 2025 to discuss the formal transition of leadership in Indonesia’s landmark electric vehicle (EV) battery project, valued at US$9.8 billion (Rp165.3 trillion). Chinese battery manufacturer Huayou has officially replaced South Korea’s LG Energy Solution (LGES) in the consortium.
PGN Synergy secures domestic gas supply through swap gas agreement
With government’s support, PT Perusahaan Gas Negara (PGN) has secured additional gas supply to meet growing domestic demand after the State-owned gas company signed two strategic agreements − a Domestic Swap Agreement and a Gas Sales Agreement − with the West Natuna Group.
Freeport’s Gresik smelter to begin operation in June: Bahlil
Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, has announced that PT Freeport Indonesia's copper smelter in Gresik, East Java, is now complete and set to begin operations in June 2025, ahead of its original schedule in September.
PGN secures gas supply deals, strategic cooperation at IPA Convex 2025
The Indonesian government has reaffirmed its strong support for state owned gas distribution company PT Perusahaan Gas Negara (PGN) in its mission to provide reliable and sustainable natural gas across the country.
PLN to incubate energy unicorns through Startup Day Initiative
State-owned electricity company PT PLN is ramping up efforts to foster innovation in the energy sector, with hopes that its PLN Startup Day initiative will pave the way for homegrown startups to reach unicorn status and compete on a global scale.
Badak LNG-INPEX Masela ink strategic MoU on LNG project development
Badak LNG, a subsidiary of State-owned energy company Pertamina Hulu Energi has signed a Memorandum of Understanding (MoU) with INPEX Masela Ltd., a subsidiary of Japan-based INPEX Corporation, to explore strategic cooperation in the development of Indonesia’s LNG industry.
PGEO seeks shareholder approval to enter lab testing, fluid measurement businesses
PT Pertamina Geothermal Energy (PGEO), a subsidiary of State oil and gas company PT Pertamina, is planning to expand into two new lines of business − laboratory testing services and commercialization of two-phase fluid measuring instruments − as outlined in the company's Articles of Association and the 2020 Indonesian Standard Industrial Classification (KBLI).
CATL to start EV battery production by March 2026: Deputy ESDM Minister
The government has confirmed that Chinese battery giant Contemporary Amperex Technology Co. Limited (CATL) will proceed with the production of electric vehicle (EV) battery in Indonesia starting March 2026, said Deputy Minister of Energy and Mineral Resources (ESDM) Yuliot Tanjung.
Global digital infrastructure leader Equinix has launched the construction of its first data center in Indonesia, named JK1, located in the heart of Jakarta.
Global digital infrastructure leader Equinix has launched the construction of its first data center in Indonesia, named JK1, located in the heart of Jakarta.
Ministry asks all parties to safeguard investment climate after Chandra Asri extortion case
An incident involving individuals claiming to represent the Cilegon branch of Indonesia’s Chamber of Commerce and Industry (Kadin) has drawn public attention, after a viral video showed the group demanding a share in a Rp5 trillion (US$302 million) project from PT Chandra Asri Alkali during a meeting with Chinese contractor China Chengda Engineering Co Ltd.
PT Timah faces technological hurdles in advancing rare earth elements project
President Director of State-owned tin miner PT Timah, Restu Widiyantoro, has acknowledged that the slow progress of the company’s rare earth elements (REE) project stems primarily from technological limitations.
EMP discovers 20 million barrels of oil in Riau’s Bentu Block
Oil and gas company PT Energi Mega Persada (EMP) has announced a significant oil discovery from its Bentu Production Sharing Contract (PSC) block in Riau, Sumatra, revealing an estimated 20 million barrels of oil in place from its Central East Napuh Deep South (CEN) field.