Antam plans $3.9b investment in three years
Tuesday, February 8 2011 - 09:24 AM WIB
Antam's development director Tato Miraza said the firm plans to develop five projects, all in eastern Indonesia, from this year through 2013.
The first project is the one aimed at "modernizing and optimizing" its ferronickel (FeNi) production plant in Pomalaa, Central Sulawesi.
The project worth an estimated $486 million is now in the phase of engineering, procurement, construction and management (EPCM) tender, according to Tato.
The second project is the development of a FeNi plant on Halmahera island in North Maluku with a production capacity of 27,000 TNi per year and an investment of $1.6 billion.
The third project is called the Mandiodo Nickel Pig Iron project in Mandiodo, Southeast Sulawesi. The firm plans to spend $398 million to build the production plant that will have a capacity of 120,000 tons of NPI per year.
Next is the Tayan Chemical Grade Alumina project in West Kalimantan. Antam has signed an EPC contract with the consortium of PT Wijaya Karya (Persero), Tsukihima Kikai Co. Ltd and PT Nusantara Energi Abadi (Nusea)to build the plant that will have a production capacity of 300,000 tons of CGA per year. The project needs an investment estimated to be worth $459 million. Antam is finalizing negotiation with JBIC to provide the financing.
The fifth project is the development of the Alumina Grade Smelter in Mempawah, West Kalimantan. The smelter designed with a capacity of 1.2 million metric tons of alumina per year needs an estimated $1 billion in investment to build. Antam is now in the phase of selecting an EPC contractor and and looking for financing for the project.
Tato said all the projects are expected to start construction this year and to come online in 2014. (Giok)