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The FeNiHaltim Construction Standstill

State-owned (BUMN) mining company PT Aneka Tambang Tbk (ANTM) has been constructing a ferronickel smelter with an annual production capacity of 13,500 tons of nickel in ferronickel (TNi) in Halmahera Timur, Maluku Utara, since 2012. The so-called FeNiHaltim project has made ANTM shell out at least 3.5 trillion rupiah from its own coffers and additional state capital placement. The project is supposedly over 90 percent completed, but it still can’t be completely wrapped up—the reason: electricity supply.

Business

The FeNiHaltim Construction Standstill

State-owned (BUMN) mining company PT Aneka Tambang Tbk (ANTM) has been constructing a ferronickel smelter with an annual production capacity of 13,500 tons of nickel in ferronickel (TNi) in Halmahera Timur, Maluku Utara, since 2012. The so-called FeNiHaltim project has made ANTM shell out at least 3.5 trillion rupiah from its own coffers and additional state capital placement. The project is supposedly over 90 percent completed, but it still can’t be completely wrapped up—the reason: electricity supply.

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Adiguna Sutowo passes away

Adiguna Sutowo, co-founder of MRA, a diversified business group with interest in media, hospitality, retail, consumer electronics, and automotive, has passed away. Adiguna is son of the late Ibnu Sutowo, the controversial former CEO of state oil and gas company Pertamina, whose family controls Nugra Santana Group.

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