Industries

PT ST Telemedia Global Data Centers Indonesia (PT STT GDC Indonesia) on Wednesday (June 21) launched its first data center, STT Jakarta 1, in Bekasi, West Java, in collaboration with global investment company Temasek and local Indonesian conglomerate Triputra Group.

President Jokowi ‘Jokowi’ Widodo inspected two copper smelter projects on Tuesday (June 20). The new copper smelter built by PT Freeport Indonesia (PTFI) in Gresik, East Java with estimated investment of US$3 billion is getting closer to commercial operation. 

President Joko “Jokowi” Widodo has on Tuesday (June 20) kicked off construction of the first copper foil project in Indonesia with estimated investment of US$860 million in Gresik, East Java province from PT Hailiang Nova Material Indonesia, a subsidiary of Zhejiang Hailiang Co Ltd.

Shares of the troubled state EPC firm and toll developer PT Waskita Karya (WSKT) Tbk ended at Rp202 on Friday (June 16) to make a market capitalization of Rp5.8 trillion, not even half of the company’s equity (Rp13.85 trillion as of March 31, 2023). Like peers, investors are still worried about going concern of WSKT related to poor balance sheet and series of corruption cases.

Indonesia recorded trade surplus of US$5.8 billion from iron & steel (HS 72) in the first five months of 2023, down 10.9% from the corresponding period last year, among others due to correction in global price of steel. Indonesia’s export from the sector declined 12.2% in the period, while import fell 14.6%.

Indonesia recorded export revenues of US$21.7 billion in May 2023, an increase of 0.96% only year-on-year, while the first five months already dropped 6% to US$108.06 billion. It is well anticipated because of correction in almost all key export commodities, especially minerals (nickel, coal) and palm oil. 

Jakarta Outer Ring Road-2 (JORR-2) is moving closer to completion after almost two decades of development/construction. Started out by SBY administration (2004-2014), only less than five KM of the total length of 110 KM was completed. Jokowi administration, however, managed to accelerate the project, which will ease traffic congestions in the Greater Jakarta, West Java, and Banten provinces.

Some use the same old argument in opposing the government’s export ban of bauxite, i.e. not enough domestic processing capacity. We heard the same argument many years ago when President Joko ‘Jokowi’ Widodo decided to give no more room for export of nickel ores. We all know, however, that the country attracted over US$20 billion of investments in nickel-to-EV battery since then.

Two areas, Morowali in Central Sulawesi and Halmahera in North Maluku, have made headlines worldwide for major investments in nickel processing into nickel pig iron (NPI), nickel-cobalt sulfate, or stainless steel. Obi Island, also in North Maluku, however, gains traction because of billions of USD investment in the small island.