Antam hopes to get new partner for Tayan alumina plant soon
Friday, September 22 2017 - 02:05 AM WIB
IDX-listed mining PT Aneka Tambang Tbk (Antam) said it has been in talks with a number of foreign companies to seek a new strategic partner for its Tayan chemical grade alumina (CGA) plant in West Kalimantan Province.
Kontan quoted Antam Corporate Secretary Aprilandi Hidayat Setia as saying that the foreign companies include those from Japan, China and South Korea.
He said that the company was hoping to be able to get a new strategic partner by November of this year to help the plant to resume normal operation.
The Tayan CGA plant is operated by PT Indonesia Chemical Alumina (ICA), which is 80 percent owned by Antam and 20 percent by Japan?s Showa Denko KK (SDK). The latter company has announced it would divest its interest in ICA after SDK and Antam failed to reach agreement on how to turn around the Tayan CGA plant, which has yet to deliver profitability and that production has been below desired level amid ?challenges? since it started operation in 2015.
Aprilandi said that Antam is willing to reduce its interest in ICA to become minority.
The Tayan CGA plant has installed production capacity of 300,000 tons.(*)