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WIKA to undertake Rp1.2 trillion IKN toll road project, completion in 2025
State-owned construction firm PT Wijaya Karya (WIKA) is prepared to construct the Capital City of Nusantara (IKN) Toll Road Section 3B-2: Kariangau KKT - Sp. Tempadung with a project value of Rp1.2 trillion (US$76.8 million).
Freeport's smelter project, a catalyst for economic growth, resource development
The upcoming inauguration of PT Freeport Indonesia's new copper smelter in Java Integrated Industrial and Ports Estate (JIIPE), Manyar, Gresik regency, East Java, represents a pivotal moment in Indonesia's mining sector. Scheduled to commence its first production in August 2024, this state-of-the-art smelter is poised to unlock a new chapter of economic growth and resource development in the region.
Maximizing domestic natural gas use, key pillar of Indonesia's energy strategy
The Ministry of Energy and Mineral Resources (ESDM) has reported a significant milestone in Indonesia's energy landscape, with domestic natural gas utilization reaching 68.2 percent of total production throughout 2023. This achievement underscores the nation's commitment to maximizing the utilization of its abundant natural resources and highlights the pivotal role of natural gas in meeting both industrial and household energy needs.
WIKA, Waskita to strengthen governance amid reports of irregularities
Two state-owned construction companies, PT Wijaya Karya (WIKA) and PT Waskita Karya (WSKT), have expressed their commitment to continuing to strengthen governance amid indications of conflicts of interest within the company.
Supporting decarbonization, Pertamina Patra Niaga facilitates carbon purchases
In an effort to provide decarbonization solutions for its business partners, Commercial and trading subholding of Pertamina, PT Pertamina Patra Niaga, is opening opportunities for carbon trading with domestic and international companies.
Five largest creditors to private Indonesian entrepreneurs
The Indonesian central bank (BI) has recorded the five largest creditors for Indonesian private foreign debt in the past 10 years, namely Singapore, the United States, China, Hong Kong, and Japan. Overall, as of November 2023, private foreign debt decreased by 2.3 percent compared to the same period in 2022 (year-on-year/yoy) to US$196.2 billion.
Bridging funding gap in RUPTL projects: PLN asked to engage int’l partners
The Ministry of Energy and Mineral Resources (ESDM) asks State electricity company PT PLN to expand its business scheme related to fundraising for projects outlined in the Electricity Supply Business Plan (RUPTL) 2021-2030 as a measure to provide an alternative investment avenue currently unavailable to PLN.
Pertamina International Shipping books revenue of Rp51.56 trillion in 2023
PT Pertamina International Shipping (PIS), a subholding of Pertamina engaged in integrated logistics and shipping, reported a revenue of US$3.3 billion, equivalent to Rp51.56 trillion in its unaudited financial performance for 2023. This represents an 18 percent increase compared to the 2022 realization of US$2.8 billion or Rp43.75 trillion. The net profit after tax for 2023 reached US$304 million, marking a 48 percent increase from the previous year's figure of US$205 million.
Another smelter fire in Morowali: Chronology
Only less than a month after a previous incident, another smelter fire occurred in the Morowali industrial area, Central Sulawesi, on Friday, January 19, 2024, affecting the smelter furnace owned by PT Sulawesi Mining Investment (SMI).
PLN to illuminate Lampung with 2 mini-Hydro Power Plants
In a strategic move toward sustainable energy practices, State electricity company PT PLN has recently achieved a milestone by commissioning two units of the Besai Kemu Mini-Hydro Power Plant (PLTM) in Lampung.
CMNP secures IDR 600 B, Harbour Toll Road II to complete by 2025
Director General of Highways at the Ministry of Public Works and Housing, Hedy Rahadian, said on Monday that he was optimistic that the elevated Harbour Toll Road II, connecting East Ancol to Pluit, will be completed by 2025.
PLN asked to open large-scale Power Plant auctions in bundle scheme
Executive Director of the Institute for Essential Services Reform (IESR), Fabby Tumiwa, asks that State electricity company PT PLN to initiate auctions for large-scale renewable energy (EBT) projects this year, suggesting a bundle scheme or project package mechanism in an effort to secure economic viability of these EBT power plant projects by developers.