Category: Industries

Revisiting Pupuk Kaltim

PT Pupuk Kalimantan Timur (Pupuk Kaltim), a subsidiary of state-owned fertilizer holding company PT Pupuk Indonesia continues to expand its production capacity. Interesting to see whether the government will eventually allow the company to launch an initial public offering (IPO).

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Steel industry update

World crude steel production for the 71 countries reporting to the World Steel Association was 148.1 Mt in January 2024, a 1.6% decrease compared to January 2023. China is estimated to have crude steel production of 77.2 Mt in January 2024, down 6.9% on January 2023. 

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Infrastructure Journal

For two days, President Joko ‘Jokowi’ Widodo visited South Sulawesi province for reviewing and inaugurating a number of infrastructure projects. The President inaugurated the Centralized Domestic Waste Water Management System (SPAL-DT) in Losari, Makassar with Rp1.2 trillion of investment. Sitting on 2.37 hectares of land, the SPAL-DT has 16,000 cubic meters per day of capacity with 9.6 kilometers length wastewater pipe network, serving 41,000 households. The implementation of SPAL-DT project, which began in November 2020, completed this month. 

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Smelter Projects Update

Indonesia now has 187 smelters (processing nickel, bauxite, iron, tin, copper, and gold) to supporting government’s program to developing the processing/refining industry and mineral-based industrial areas. The Coordinating Ministry for Maritime Affairs and Investment (Kemenkomarves) said the government will continue the so-called ‘downstreaming’ program.

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We have nickel, but Vietnam leapfrogs in EV race

Indonesian government proudly announced that the country will be become the first to launch VinFast’s new electric vehicle (EV). VinFast from Vietnam, as you know, has been listed on Nasdaq, New York with market capitalization of US$12.73 billion, slightly smaller than Indonesia’s largest automotive player Astra International. 

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Investment in hospitality industry

Investment in hospitality industry is set to grow faster. The economic crisis caused by COVID-19 pandemic influenced the hospitality industry, causing some projects to be postponed. Gradual recovery of tourism, therefore, is the main driver to revitalization of this industry. 

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Steel industry outlook

Domestic demand of steel is now subject to continuation of the ambitious new capital city (IKN) Nusantara project because it is currently the single largest market. Outcome of February 14 election, accordingly, defines future demand of the commodity. 

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New investments in manufacturing

China’s tire manufacturer Zhongce Rubber Group Co. Ltd (ZC Rubber) has officially announced its plan to construct its second overseas tire factory in Indonesia. The company, in addition, aims to commence tire production at the new facility by the end of 2024. ZC Rubber is also evaluating the possibility of building another plant in Mexico. 

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The closure of Hung-A Tire

Tire is probably one of the most competitive industries in Indonesia. Almost all big names in the world of tire have local manufacturing presence. It was for a long period a three-way competition between Goodyear, Bridgestone, and Gajah Tunggal (using Yokohama Tire technology). 

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External trade in 2023 & outlook

So, Indonesia booked trade surplus of US$36.9 billion last year, dropped by 32% from 2022 due to 11.3% fall in export, while import declined by 6.55% only. Oil and gas sector recorded trade deficit of US$19.9 billion, dropped from US$24.42 billion thanks to substantial decline in import, while export was relatively stagnant.

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EV: Point of no return

Some talk about slowdown of electric vehicle (EV) sales and downfall of EV startups. Others, however, believe correction in sales will be temporary, including early lifting of tax incentives in Germany recently. Falling raw material costs like lithium and nickel will likely cut EV battery costs significantly to boost sales instead.

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Safety Concern on Nickel Smelter Projects

First of all, we can’t blame it all to the Chinese for series of accidents in nickel smelters and stainless steel factories, being the most recent killing 21 workers. Indonesian government and local partners of Chinese companies should be held accountable for poor planning and supervision of the projects. 

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