#General Corporate
Labour Party threatens to stage a nationwide strike against Job Creation Law
Labour party and workers union plan to stage a nationwide strike to protest against the recent enactment of government regulation in lieu of a law on job creation into law by the House of Representatives. Chairman of the Labour party Said Iqbal said that 5 million workers in 100 thousand factories under the coordination of the Labour Party will stage a massive strike and will also invite port workers, truck drivers and public minivan drivers to protest against Omnibus Law on Job Creation.
Air Products withdraws from their Indonesian projects following incentive offer from the US
Air Products and Chemical Inc. has decided not to pursue two downstream coal development projects in Indonesia. The company decided to withdraw from its coal gasification into DME collaboration with PT Bukit Asam Tbk (PTBA) and PT Pertamina. It also decided not to continue their engagement in developing methanol gas production facility in cooperation with Bakrie Group companies, PT Kaltim Prima Coal and PT Arutmin Indonesia.
Government plans to grant Freeport contract extension, export tax reduction
The government has planned to grant contract extension for PT Freeport Indonesia when the current contract expires in 2041. The extension of the contract is granted earlier than scheduled because the government considers the economic feasibility of Freeport underground mining Grasberg project. The government has also planned to provide export tax reduction to the mining company.
Vale Indonesia, China's Huayou develop nickel smelter in South Sulawesi
Nickel mining company PT Vale Indonesia Tbk has agreed to collaborate with China's Zhejiang Huayou Cobalt Co. Ltd. to develop a smelter with High Pressure Acid Leaching (HPAL) technology in Sorowako, South Sulawesi. The two companies’ cooperation has started early this year. Huayou conducted the feasibility study, which has resulted in a positive outcome.
Antam, IBC to develop battery for electric vehicles industry
State-owned mining company PT Aneka Tambang Tbk (Antam) is developing a plant and smelter to process Mix Sulphide Precipitate (MSP) as a raw material to produce precursors or cathodes for electric vehicle batteries.
Three Sulawesi governors request government not to extend Vale Indonesia's contract
Governors of South Sulawesi, Southeast Sulawesi and Central Sulawesi have rejected the extension of the contract of work of nickel mining company PT Vale Indonesia Tbk. They also requested the government to hand over the concession to the provincial administration owned enterprises (BUMD).
VKTR to go public by end of November 2022
PT Vektr Teknologi Mobilitas (VKTR), a PT Bakrie and Brothers Tbk (Bakrie Group) electric vehicle (EV) company, will do an Initial Public Offering (IPO) later in 2022.
VKTR to provide West Java public transportation firm with electric buses
PT Vektr Teknologi Mobilitas (VKTR), a subsidiary of Bakrie and Brothers conglomeration, will supply electric bus fleet to West Java-owned enterprise PT Jasa Sarana. VKTR Chairman Anindya Bakrie said the company would provide solutions to reduce emissions from public transportation.
Kayan Hydro Energy, Japan's Sumitomo partner on 9,000MW plant in North Kalimantan
The Kayan hydropower plant developer, PT Kayan Hydro Energy (KHE), has secured a cooperation with Japanese Sumitomo Corp. to develop a 9,000MW (megaWatts) hydropower plant, the largest in Southeast Asia.
Inalum Operating to go public in 2023
Following the splitting off from its holding company MIND ID (Mining Industry Indonesia), PT Indonesia Asahan Aluminium (Inalum) Operating will launch an initial public offering (IPO) in 2023. MIND ID will be a separate legal entity as a strategic holding company while Inalum Operating will resume its role as a full-service operations company.
Indonesia Infrastructure Finance offers financing opportunities to foreign investors, companies
PT Indonesia Infrastructure Finance (IIF), a private non-bank financial institution under the Finance Ministry, is offering financing opportunities to foreign investors and companies who want to finance their projects in Indonesia.
Huawei expands in Indonesia despite security concerns
Chinese telecommunication company Huawei Technologies Co. Ltd. is gaining traction in Indonesia despite concerns regarding its possible surveillance and intelligence purposes.