#Energy
Investment realization reaches IDR 892.4 trillion in 2022: BKPM
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. He was upbeat that his ministry could reach a targeted investment of IDR 1,200 trillion for the year 2022.
Amman Mineral Nusa Tenggara smelter progress reaches 47% in October 2022
The construction progress of mining company PT Amman Mineral Nusa Tenggara (AMNT) copper smelter has reached 47% as of October 2022. The smelter will produce 200,000 copper cathodes by the end of 2024, later than the original schedule of 2023.
Bumi Resources receives IDR 24 trillion from a private placement fund
PT Bumi Resources Tbk (BUMI) will pay its debts in the future through private placement funds of IDR 24 trillion and will be paid off in the next 5 days.
Pertamina International Shipping to collaborate with Vitol until 2023
PT Pertamina International Shipping (PIS), a subsidiary of state oil and gas company PT Pertamina, has successfully collaborated with global oil and gas players to establish business cooperation. PIS signed a Memorandum of Collaboration (MoC) with Vitol Asia Pte Ltd of the Netherlands, which is one of world-class oil and gas companies.
Indonesia's EV infrastructure sector still open to many
With over 28,188 electronic vehicle (EV) units all over Indonesia - consisting of cars, motorcycles and buses - the nation still suffers from lacking of infrastructure. However, the door for investors to EV infrastructure is still wide open.
Indonesia needs investment for developing EVs despite having good prospect
Indonesia is one of the biggest markets for automotive industry, especially electric vehicles (EV), in 2022. The country's population of 273.5 million people, the rise of its middle-class population to about 52 million and the rise of economic growth to 5.44% year-on-year (yoy) are among the supporting factors. Furthermore, the government has been supportive and welcome investment for the development of EVs.
Denpasar builds Liquefied Natural Gas (LNG) regasification
Denpasar city, the capital of resort island Bali, has built a Liquefied Natural Gas (LNG) regasification project since 2021. It is part of the Investment Coordinating Board (BKPM)'s 47 national projects. The investment for the project is worth IDR 1.62 trillion.
Indonesia to secure US$ 138.2 million palm kernel shells export deal to Japan
Indonesia has secured eight trade contracts for palm kernel shells for Japan's renewable energy needs valued at US$ 138.2 million (IDR 2.1 trillion). The contract was signed in a business meeting in Tokyo on September 28, 2022.
PT Indonesia Strategis Industri to build an integrated green economic zone in North Kalimantan
PT Indonesia Strategis Industri (ISI) - in partnership with PT Kayan Hydro Energy (KHE) and PT Pelabuhan Internasional Indonesia (PII) - plans to build a green economic zone in Tanjung Selor, North Kalimantan. By using electricity generated by KHE’s hydroelectric power plant and using materials from the construction project of the said power plants, the green economic zone will integrate multiple industries and infrastructure. The economic zone will be built in Tanah Kuning village, Mangkupadi, East Tanjung Palas, Bulungan regency, North Kalimantan.
What if China, Russia take profit from oil trading?
Chinese President Xi Jinping visited Central Asia in a post-COVID-19-pandemic series of meetings of the Shanghai Cooperation Organization (SCO) in Samarkand, Uzbekistan, on September 15 and 16, 2022. Xi's choice to make his first visit to the SCO showed the importance of the event.
VKTR cooperates with SOEs INKA, Barata to produce EV components
Bakrie & Brothers subsidiary, PT Vektr Teknologi Mobilitas (VKTR), has signed a Head of Agreement with state-owned heavy equipment manufacturers of PT Industri Kereta Api (PT INKA) and PT Barata Indonesia to produce electric vehicle components. INKA Finance, Human Resource and Risk Management Director Andy Budiman, VKTR CEO Gilarsi W . Setijono and Barata Marketing Director Sulistyo Handoko signed the agreement in Gresik, East Java, on September 15, 2022.