Antam will soon sign joint venture agreement for Tayan alumina plant
Monday, February 27 2006 - 01:54 AM WIB
Publicly listed mining company PT Antam said that the joint venture agreement for the operation of the company's chemical grade alumina (CGA) plant in Tayan,West Kalimantan will finally be signed next month after months of delay. Investor Daily reported on Monday.
The company initially hoped to sign the JV agreement in January, last year, but it had to delay the signing due to technical reasons. The company will cooperate with Malaysian Mining Corporation, and two Japanese companies Showa Denko and Marubeni Corporation, to build and operate the CGA plant.
"The signing of the JV agreement will be carried out in March. There should be no more delay," Antam's financial director Kurniadi Atmosasmito said.
The joint venture will invest about US$220 million to build the CGA plant which would have a capacity to produce 300,000 tons of CGA a year. (*)