Antam to sign Tayan Alumina project contract November
Saturday, October 22 2005 - 02:31 AM WIB
State nickel and gold miner PT Aneka Tambang Tbk expects to sign cooperation contract with undisclosed party to develop Tayan Alumina project in West Kalimantan, the company official said.
The project would process bauxite into chemical grade alumina (CGA) with production capacity of up to 300,000 tons of CGA per year. CGA is used for various commercial and industrial purposes, such as the manufacturing of ceramics, paint, spark plugs and toothpaste.
Publicly listed Antam has appointed investment bank Citigroup as its advisor to review possible options in financing the estimated $220-million project.
The plant is expected to begin operation by the end of 2008 or early 2009.(godang)