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WSBP invest IDR 80 billion to build Nusantara's Presidential Palace and working roads
PT Waskita Beton Precast (WSBP) is a publicly traded Indonesian state-owned enterprise (SOE) founded in 2014 and a subsidiary of PT Waskita Karya (Persero). It is the country's largest producer of precast and mixed concrete. The company intends to invest IDR 80 billion (US$ 5.2 million) in capital expenditure (Capex) to develop Indonesia's New Capital, Nusantara, in East Kalimantan.
Pertamina secures oil block contract extension in Venezuela
PT Pertamina Hulu Energi (PHE) has secured a landmark contract extension for the Urdaneta West Field Block in Venezuela, underscoring the company's long-term commitment to the region's energy sector.
Securing continuity of Masela Block, Inpex pursues long-term LNG sales contracts
The Japanese oil giant, Inpex Corporation, is currently seeking long-term gas buyers for the Abadi LNG project in the Masela Block.
PGN ventures into China's LNG market
State-owned gas distributor PT PGN (PGAS), a subsidiary of Pertamina, has taken a bold step towards expanding its global business operations by orchestrating the sale of seven liquefied natural gas (LNG) cargoes to China. The move, equivalent to 64 billion British thermal units per day (BBtud), signifies PGN's entrance into the international LNG market and underscores its commitment to diversifying its energy sales portfolio on a global scale.
Pertamina teams up with ENI and Petronas to explore African, S. American oil blocks
PT Pertamina Hulu Energi (PHE) has entered into a collaboration with the Italian oil and gas company ENI and Malaysia's Petronas to explore the potential of oil and gas blocks in Africa and South America.
PLN teams up with TANESCO on geothermal business expansion in Tanzania
State electricity company PT PLN is expanding synergies in the development of geothermal power plants (PLTP) in East Africa with Tanzania Electric Supply Co Ltd (TANESCO).
LG, Antam to finalize joint venture agreement next week
A consortium of South Korean battery maker LG Energy Solution (LGES) and an Indonesian consortium of National diversified miner PT Aneka Tambang (Antam) and its subsidiary Indonesia Battery Corporation will finalize the establishment of joint venture companies this week.
Erick summons Waskita, WIKA chiefs to discuss merger
Minister of State-Owned Enterprises, Erick Thohir, recently called upon executives of two state-owned construction companies, namely PT Waskita Karya (WSKT) and PT Wijaya Karya (WIKA), to discuss solution for their massive debts issue.
Government should provide favorable climate to attract tin downstream investors
To attract investors in the tin downstream industry, Indonesia must guarantee competitive investment costs, affordable gas prices, low logistic costs and infrastructure availability. President Director of state-owned tin mining company PT Timah Tbk., Achmad Ardianto, said investors in the tin downstream industry would seek a location with reasonable capital or minimal investment costs.
Energy ministry prepares exploitation of rare earth minerals
The Ministry of Energy and Mineral Resources' Geological Agency is exploring the potential of rare earth minerals in Indonesia. The exploration is carried out to identify rare earth minerals in the laterite potential areas outside the mining sites, so the government can prepare the mining operation permits.
Antam, LG Energy Solution cooperation remains unclear
A planned cooperation in developing electric vehicle battery between Indonesian state-owned mining company PT Aneka Tambang Tbk (Antam) and South Korean battery maker LG Energy Solution (LGES) is still unclear. State mining holding company MIND ID Chief Executive Officer Hendi Prio Santoso said that LG even left the negotiation of the project to a member of its Huayou Cobalt Co.Ltd. of China.
Government's plan to ban copper exports may cause 40,000 jobless
The government's plan to fully ban the exports of copper concentrates has worried the Indonesian Mining Association (IMA) over the fate of around 40,000 workers in the industry. The IMA raised concern over the government's unlikeliness to complete the downstream industry before the planned deadline of June 2023.