Friday, February 3, 2023

Tag: Energy

Bangka-Belitung Islands province’s fame as a mining source of silica or quartz sand and rare earth minerals, has attracted a Chinese company to invest US$ 3 billion. Acting Governor of Bangka Belitung Islands and the Ministry of Energy and Mineral Resources’ Director General of Minerals and Coal, Ridwan Djamaludin, said Chinese solar panel producer Xinyi Solar Energy Holding Co., Ltd., has shown its […]
PT Arkora Hydro Tbk (ARKO) will establish a new subsidiary of PT Arkora Hydro Pamulihan (AHP) with IDR 2.49 billion (US$ 167,500) in investment. The new subsidiary will generate electricity through renewable and new power sources. […]
PT Pertamina Geothermal Energy (PGE), a subsidiary of state-owned oil and gas giant company PT Pertamina, expects to earn up to IDR 9.78 trillion (US$ 657.92 million) in fresh funds from its Initial Public Offering (IPO) in early February. […]
LNG transportation company PT GTS International Tbk (GTSI) has been allocating US$ 24 million Capital expenditure (Capex) for its 2023 business expansion due to the constantly increasing demand for liquefied natural gas (LNG) in Indonesia. […]
The government has requested state owned oil and gas giant PT Pertamina Tbk to be more pro-active in seeking investors for the development of oil refineries in Indonesia. The company should not rely solely on its own funds to finance the projects. […]
Coal mining company PT TBS Energy Utama Tbk (TOBA), which 9.99% of its shares are owned by Coordinating Maritime Affairs and Investment Luhut Binsar Pandjaitan, is allocating 80%-90% of its Capital expenditure (Capex) for its non-coal business in 2023. […]
Publicly listed coal mining company PT Golden Energy Mines Tbk (GEMS) has allocated US$ 33 million Capital expenditure (Capex) in 2023 to increase its production. […]
A diverse range of companies in various industries, from natural resources and manufacturing to banking and telecommunications, plays a significant role in the Indonesian economy. These companies also serve as major employers in the country. […]
Heavy equipment distributor PT United Tractors Tbk (UNTR) is expanding its business by allocating US$1 billion of Capital expenditure (Capex) in 2023 for equipment reconditioning and replacement. […]
PT MNC Energy Investment Tbk (IATA) aims to increase its coal production in 2023 to reach 7 million tons, supported by its Capital expenditure (Capex). The company did not reveal the amount of its Capex. […]
Prior to becoming a seasoned politician, Muhammad Jusuf Kalla, popularly known as JK, has built his reputation as a noted businessman from Makassar, South Sulawesi. He helped expand his family business empire from a humble textile company into its present state, which interests range from car distributor to power plant. […]
Oil and gas transportation company PT Humpuss Intermoda Transportasi Tbk (HITS) has allocated US$ 94 million or IDR 1.46 trillion of Capex to procure 11 new ships in 2023. […]
Marine logistics company PT Transcoal Pasific Tbk (TCPI) purchased new ships and paid operational expenses through its 2022 Capital expenses (Capex) worth IDR 300 billion. For next year, the company has allocated IDR 450 billion in Capex. […]
Mining company PT Golden Eagle Energy Tbk (SMMT) is optimistic to increase its coal production target by 15% to 20% in 2023, compared to the 2022’s production, due to its IDR 25 billion capital expenditure (Capex). […]
Steel plates producer PT Gunung Raja Paksi Tbk (GGRP) has allocated IDR 328 billion of capital expenditure (Capex) for 2023. The company will use the Capex to support the production of high-quality steel. […]
Nickel mining company PT Vale Indonesia Tbk will lower its capital expenditure for 2023 by allocating US$ 110 million for mining development, heavy equipment replacement and Bahodopi smelter block 1. […]
The government has decided to restructure state-owned plantation company PT Perkebunan Nusantara (PTPN) III into three subholdings and would launch an IPO for one of them, which is the oil palm plantation PalmCo. Deputy Minister for State-Owned Enterprises Pahala Mansury said that the establishment of PalmCo should be completed by the end of 2022 and the IPO will take place in the […]
PT Bayan Resources Tbk. (BYAN) has absorbed capital expenditure (Capex) of US$ 166.2 million on the construction of a coal transport road, overland conveyor and a barge loading facility in Muara Pahu, East Kalimantan. The company seeks to increase its 2023 coal production targets to over 45 million tons, an increase compared to 2022 which was below 40 million tons. […]
PT TBS Energi Utama Tbk (TOBA) sets CAPEX for 2023 at US$50M-US$60M, to be allocated for further renewable energy development and EV vehicles. […]
Oil and gas mining company PT Medco Energi Internasional Tbk has prepared US$150 million in capital expenditure (Capex) to develop the South Natuna Sea Block B Production Sharing Contract (PSC). […]
Coal logistic service provider PT Rantai Mulia Kencana Energy Tbk (RMKE) has allocated Capex of IDR 1 trillion from 2024 to 2026 to build 155 kilometers (km) road infrastructure. The infrastructure will support the hauling service and mining activities. […]
President Joko “Jokowi” Widodo announced that the G20 leaders have ratified the G20 Bali Leaders Declaration during the November 15-16, 2022, Summit in Nusa Dua, Bali, agreeing on 52 paragraphs. He highlighted one paragraph, which needed a prolonged and heated discussion on the Russia-Ukraine war. […]
The B20 Summit on 2022 concluded successfully on November 14, 2022, in Nusa Dua, Bali, for host Indonesia as the country’s major companies sealed four green energy agreements with foreign investors. […]
State Electricity Company (PLN) and US-based multinational technology company Amazon have agreed to collaborate on four solar panel projects. The Java-Madura-Bali grid projects will be in Bali and Java islands with a total capacity of 210 megawatts (MW). The agreement was signed at the Tri Hita Karana (THK) Forum on the sideline of the G20 Summit in Nusa Dua, Bali, […]
Indonesia Investment Authority (INA), Contemporary Amperex Technology Co., Limited (CATL) and CMB International Capital Corporation Limited (CMBI) have signed a Memorandum of Understanding (MoU) to carry out investment, fund establishment and other cooperation in electric vehicle supply chain for US$ 2 billion. […]
Pertamina Power Indonesia (Pertamina NRE), Keppel Infrastructure, through Keppel New Energy Pte. Ltd., and Chevron Corporation have agreed to explore green hydrogen and green ammonia development projects by using renewable energy in Sumatra. […]
Minister of Energy and Mineral Resources, Arifin Tasrif, has invited his counterparts at the B20 Forum to participate in Indonesia’s energy transition. “Let us build a collaboration among ourselves and keep communicating so we know what we are trying to accomplish and what opportunities we can share,” he told investors attending the event at the Bali Nusa Dua Convention Center […]
PT Kilang Pertamina Internasional (KPI) has utilized the Hybrid Energy One Pole (HEOP) technology that offers renewable energy through solar panel and wind power since 2017. The technology helps pave the way to more renewable energy implementation at Bondan village […]
Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia announced that investment realization from January to September 2022 has reached IDR 892.4 trillion – or 74.4% of the target – both foreign and direct investments. […]
State-owned oil and gas giant PT Pertamina and Japan Oil, Gas and Metals National Corporation (JOGMEC) have implemented a CO2 injection program for Carbon Capture, Utilization and Storage-Enhanced Oil Recovery (CCUS-EOR) in a kick-off ceremony at the Jatibarang Field JTB-161 on-site, West Java, on October 26, 2022. […]