Press Metal Aluminium Holdings Berhad (Press Metal), an aluminum company in Malaysia, has signed joint venture agreements with three Indonesian companies, PT Alakasa Alumina Refineri (AAR), PT Dinamika Sejahtera Mandiri (DSM), and PT Kalimantan Alumina Nusantara (KAN), to set up and operate an alumina refinery in West Kalimantan, Indonesia.
The cost of the first phase is US$750 million (RM3.24 billion), which will be funded through equity and loans.
The refinery is expected to have an annual production capacity of 1 million to 1.2 million tons in the first phase, and the output has the potential to double after an expansion.
CEO of Press Metal said that the joint venture can ensure higher self-sufficiency and stable supply for alumina demand, which is critical to its core smelting business. Besides, it also reduces the company's reliance on third-party suppliers and traders, guaranteeing higher operational flexibility and efficiency.
Press Metal to collaborate with 3 Indonesian firms on alumina refinery JV
20 Sep 2024 15:36 reported by Joy Liu
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