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PLN secures home charging service agreement with BYD Motor
State electricity company PT PLN has again set up collaboration with electric vehicle manufacturers to provide home charging services, securing this time an agreement with BYD Motor, currently the world’s biggest electric vehicel seller, to develop infrastructure and ecosystems for battery-based electric vehicles.
IISIA forecasts national steel consumption to grow by 5.2% in 2024
The Indonesian Iron & Steel Industry Association (IISIA) predicts that national steel consumption will grow by 5.2 percent to reach 18.3 million tons in 2024 in line increasing demand due to growth in the property sector, government infrastructure spending, and the automotive steel-consuming industry.
Risks, opportunities of EVs in Indonesia
The recent Gaikindo (Association of Indonesian Automotive Manufacturers) Indonesia International Auto Show (GIIAS) promoted automotive electrification of various brands. A total of 24 carmakers took part in the annual event including major brands of Toyota, Mazda, Nissan, Wuling and Hyundai. Motorcycle producers and components also took part in the event.
Indonesia aims high on EV, but challenges remain
Indonesia wants Tesla Inc. to make electric cars in the country, not just batteries and is willing to take the time to convince Tesla founder and CEO Elon Musk to see it as more than just a rich repository of resources.
ASSA receives IDR300 billion credit facility from Bank Muamalat
PT Adi Sarana Armada Tbk (ASSA) received credit facility from Bank Muamalat worth IDR300 billion on August 19, 2022. The capital loan will be used for purchasing vehicles for business expansion.
PP works on various government projects
PT Pembangunan Perumahan (PP) Tbk received numerous contracts worth nearly IDR700 billion in the second quarter of 2022, mostly from state-owned enterprises (SOE). Its capital expenditure (Capex) composition amounts to IDR645 billion for the primary subsidiary, the non-primary subsidiary with IDR 1.23 trillion and affiliated companies IDR16 billion. PP will focus on primary strategic government projects.
Intiland, Mitbana establish a new joint venture company
Intiland is establishing a joint venture company with one of its subsidiaries Mitbana Urban Development Fund. The cooperation allocates Capex (capital expenditure) investment worth IDR1 trillion for the development of the 270-hectare housing complex in Talaga Bestari, Tangerang. The Capex will be for the financing the ongoing construction of various projects.
DHL continues sustainable business in Indonesia
DHL expresses the importance of logistics in Indonesia and the prospect of continuing sustainable business in the long term ahead. For that, DHL Supply Chain (DSC) the parent company will invest €25 million in Cikarang, West Java.
Kemenparekraf invests in 25 projects
The Ministry of Tourism and Creative Economy (Kemenparekraf) is investing in 25 projects in Indonesia in 2022. Its projects are five Super Priority Destination (DSP), 8 Special Economic Zone (KEK) and 12 eco-tourism investment projects.
The highest inflation has occurred in five regions, Jokowi urges coordination with TPIP and TPID
Jambi, West Sumatra, Bangka Belitung, Riau and Aceh have recorded the highest inflation rates in Indonesia. Jambi became the area with the highest inflation reaching 8.55 percent. The province of Jambi is cautious at 8.55 percent. West Sumatra is at 8.01 percent; Bangka Belitung is 7.77 percent; Riau is 7.04 percent; Aceh is 6.97 percent.
EU ban on Russian coal, Indonesia's mining sector expanded 4.01 percent
Indonesia's mining sector expanded 4.01 percent in the second quarter of 2022, a growth which the Central Statistics Agency or BPS attributed to, among other things, the rising foreign demand for coal amid Europe’s decision to ban Russian imports of the combustible black rock.
Government provides support to automotive industry facilities, including EVs
ASEAN is the largest automotive market in the world where many brands trade their vehicle products from various parts of the world. The 10 Southeast Asian member states have a bright projection for the automotive market with the trend of increasing economic growth with high absorption capacity that can attract foreign investors and reduce dependence on automotive imports.