Pertamina, Inalum JV on CPC plant expected this year
Monday, November 6 2017 - 02:21 AM WIB
State-owned oil and gas company PT Pertamina and state-owned aluminum maker PT Indonesia Asahan Aluminium (Inalum) are expected to finally set up a joint venture company that will develop a calcined petroleum coke (CPC) plant, Kontan reported on Monday.
?The target to set up (the joint venture) is supposedly this year,? said Inalum Corporate Secretary Ricky Gunawan to the paper. Pertamina will have 70 percent stake in the JV, while the remainder 30 percent to be held by Inalum, which requires CPC for the production of aluminum.
Inalum currently imports its CPC requirement from Australia and Kuwait. The company wants to ensure the CPC supply as it seeks to increase aluminum production to 500,000 tons per year, which will CPC supply of 300,000 tons.
Pertamina Director of Investment Planning and Risk Management, Gigih Prakoso said that the company is still waiting for the completion of the front end engineering design and final investment decision before setting up the joint venture company.
He is, however, optimistic that the CPC plant can be completed in 2019. The Office of the State Minister of State Owned Enterprises has been putting pressure on the two companies to quickly realize the planned CPC plant which has been delayed for about three years. (*)