#Infrastructure
Waskita Karya to build infrastructure, partner on oil industry with South Sudan
State-owned construction company PT Waskita Karya has made progress on its deal to build infrastructure in South Sudan through the Ministry of Foreign Affairs. On the sidelines of the 77th UN General Assembly Session in New York on September 20, 2022, Indonesia's Foreign Minister Retno Marsudi and South Sudan’s Deputy Minister of Foreign Affairs, Deng Dau Deng Malek signed a joint communique with South Sudan to partner in building infrastructure and on the oil industry. Meanwhile, Waskita and South Sudan's Ministry of Infrastructure signed the IDR 25 trillion cooperation contract.
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.
Indonesia accelerates, boosts development of new capital in East Kalimantan
The Public Works and Public Housing (PUPR) Ministry is currently constructing the Sepaku ring road as the main access road to Nusantara, Indonesia's new capital, in East Kalimantan. The average physical progress has now reached 77%.
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 establishes largest sharia financial center in ASEAN despite lack of customers
Indonesia will have the largest Islamic Financial Center in ASEAN with the topping of the Syariah Tower in Pantai Indah Kapuk (PIK) 2 in North Jakarta on August 23, 2022. It is, somehow, contradicts to the fact that majority Muslims in Indonesia still use conventional banking, instead of sharia banking.
Indonesia's downstream mineral industry ambitions still have a long way to go
Indonesian authorities are optimistic about developing the downstream mineral industry and prohibiting the export of raw minerals. The downstream sector, however, has a long way to go, according to some industrialists and market players.
Indonesia to ban other raw mineral exports after nickel ore ban's success
Following the success of nickel ores export ban and the development of its downstream industry, the government will apply the same prohibition to ores such as copper, bauxite and tins.
Surveyor Indonesia verifies Freeport's smelter progress for export duty reduction
PT Surveyor Indonesia Tbk is verifying the progress of gold and copper mining company PT Freeport Indonesia (PTFI)'s smelter in Gresik, East Java. The verification is needed to decide if it has reached more than 30% progress as claimed by the Energy and Mineral Resources Ministry and the company itself. Based on the regulation, Freeport can secure export duty reduction from 5% to 2.5% if the progress on smelter is more than 30%.
Petitioners remain bleak that Constitutional Court grant their appeal on new capital law
Lawyer and petitioners of Indonesia's new capital believe the Constitutional Court will grant its verdict in favor of the government's mega project although they deem the law is flawed. The Court will announce on July 20, 2022, its verdict on the judicial review petition against Law No. 3/2022 on new capital city.
Freeport Indonesia smelter progress reaches 27%
PT Freeport Indonesia (PTFI) has achieved 27% progress in developing its copper smelter in Gresik, East Java, as of March 2022. The smelter is Freeport's second smelter in Gresik following the government's requirement of special mining permit (IUPK) to enable the company operate in Indonesia until 2041.
Abundant business opportunities in Natuna Islands face challenges
China and Indonesia have been in a stand-off over the waters around Indonesia’s Natuna Islands, which is part of the South China Sea, for quite some time now. In the most recent incident, Chinese diplomats requested Indonesia to stop drilling at an oil and gas block in the area.