Category: Industries

Those continue to invest

Foreign investors have poured more money in the country in recent months despite the Covid-19 pandemic. This can be seen in their procurement of industrial land in some areas, particularly in West and Central Java. Purchase Manager’s Index (PMI) for manufacturing industry also suggested further expansion last month.

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Suryo Eko & PTBA

Minister of State-owned Enterprises (BUMN) Erick Thohir, as the main shareholder of the coal mining firm PT Bukit Asam Tbk (PTBA), appointed Suryo Eko Hadianto as the new CEO of PTBA. Eko replaces Arviyan Arifin as per the decision of the Annual General Meeting of Shareholders ((RUPST) of PTBA conducted on April 5. 

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Toll road projects update

The Cengkareng-Batuceper-Kunciran section (14.19 KM) of the Jakarta Outer Ring Road-2 (JORR-2) will soon enter commercial operation as construction progress reached 94.08%. Ministry of public works and relevant authorities have started fit and proper test of the new toll road, which will ease off traffic congestion in the Greater Jakarta area.

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Infrastructure Journal

Nearly half a century after it was initiated by then president Soeharto in 1973, the Umbulan water project in East Java has on Monday (March 22) been inaugurated by President Joko ‘Jokowi’ Widodo. This is also one of the completed public-private partnership (PPP) projects under Jokowi’s leadership. 

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Manufacturing industry gains more grounds

Indonesian food and beverage industry continues to attract investments, mainly to serve growing domestic demand and export. Footwear industry also regained grounds with more investments from major brands. The country also gained more attention from global manufacturers of electric vehicles (EVs).

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Vaksin Nusantara & Aivita Biomedical

Lawmaker from almost all political parties at the House Commission IX (overseeing health affairs) spent hours and hours Wednesday (March 10) to grill high-ranking officials from ministry of health (including vice minister Dante) and the Food & Drug Administration BPOM on authorities’ approval for the so-called Vaksin Nusantara (claimed as a genuinely developed by Indonesian scientists—-including former health minister Terawan, but actually a dendritic cell vaccine developed by US biomedical start-up company Aivita Biomedical Inc). 

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Toll road projects update

The second Jakarta Outer Ring Road (JORR-2), which connects suburban industrial and residential areas in West Java, Banten, and Jakarta, progressed well despite movement restrictions during the pandemic. Some sections are scheduled for commercial operation in the coming weeks.

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Luhut & TESLA: Between Facts and Promises

There have been talks about the American electric vehicle producer TESLA potentially investing in Indonesia. Indonesian Coordinating Minister for Investment and Maritime Affairs (Menko Marves) Luhut B. Panjaitan claimed that TESLA would team up with state-owned PT Aneka Tambang (ANTM) to build a battery plant. He went as far as announcing that TESLA had sent him a proposal, but international news outlets have reported that TESLA would build a battery manufacturing plant in Karnataka, India. What’s going on?

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Bracing for more competition in the glass industry

The Investment Coordinating Board (BKPM) claimed that South Korean glass giant KCC Glass Corporation has decided to build factory in the Integrated Industrial Estate (KIT) located in Batang Regency, Central Java province, alongside LG Energy Solutions’ multi billion USD EV-related investments and Netherland-based plastic giant Wavin. We have previously discussed LG and Wavin’s projects. How about KCC Glass?

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Merdeka Copper + Tsingshan (2)

Shares of Merdeka Copper Gold (MDKA), a company controlled by Saratoga Group, Provident Group, and Boy Garibaldi Thohir, advanced 0.39% to Rp2,550 on Tuesday (Feb 16) despite correction in gold prices. At this price, Merdeka Copper has market capitalization of Rp55.84 trillion or almost US$4 billion, substantially bigger than Adaro Energy (Rp38.7 trillion), which is also co-owned by Saratoga and Boy Thohir.

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