Jindal Stainless joins nickel project in Halmahera
Nickel industry continues to attract new players. India’ s stainless steel manufacturer, Jindal Stainless Ltd, is the last name to join the industry. Jindal recently entered into a collaboration agreement with New Yaking Pte Ltd. for the investment, development, construction, and operation of a nickel pig iron (NPI) smelter facility in Halmahera.
Lygend Resources claims first nickel sulfate production in Indonesia
Shares of Lygend Resources and Technology Co Ltd gained 2.31% to HK$12.42 on the Hong Kong Stock Exchange (HKSE) today as investors responded positively the company’s earlier announcement about first production of nickel sulfate for EV battery in Obi Island, North Maluku province, Indonesia.
Revisiting Likupang SEZ
Media recently reported that the residents in North Sulawesi province are demanding payment of compensation for the road widening project in the Likupang special economic zone (SEZ). They protested because the North Sulawesi National Land Agency (BPN) has not realized the payment since last year. From the total 117 plots of land affected by the SEZ project in Tatelu Rondor Village, only 107 plots of land which its data have been recorded in the BPN, while 17 plots of land have been paid.
Pulling off coal gasification without Air Products
The Jakarta Post published an article titled ‘US Firm’s exit deals blow to RI coal plans’, concluding that the withdrawal of Air Products Inc from all downstream coal projects in Indonesia could spell the end of the government’s plan to develop the sector. Really?
Toll road projects update
PT Roatex Indonesia Toll System (RITS), winner of the multi lane free flow (MLFF) system with US$300 million of investment, will conduct trial operation of MLFF in the Bali Mandara toll road in June 2023. Successful trial may lead to commercial operation of the technology in 40 sections of toll roads in Java and Bali islands.
Infrastructure Journal
West Sumatra, one of the most beautiful landscapes in the country, will no longer be isolated. After nearly one decade of pushbacks, the province will likely see commercial operation of the first toll road and be connected to the trans-Sumatra, an ambitious infrastructure program of President Joko ‘Jokowi’ Widodo.
More Higher Quality Investments in Nickel
Vale Indonesia (INCO) has embarked on two out of three nickel smelting projects with combined investment of US$8.5 billion, all of them in Sulawesi Island. The third, to be located in its existing smelting facility in Sorowako, South Sulawesi province, might follow soon as part of the company’s commitments for the extension of mining contract beyond 2025.
Recovery of Tourism & Transportation
Indonesia welcomed around 736,000 tourists in January 2023, surged 503% from the same month last year. It is below average monthly visits prior to the Covid-19 pandemic, but still a substantial recovery.
Manufacturing continues to attract foreign investors
China’s chopper tube and bar manufacturer Zhejiang Hailiang will invest 5-9 billion CNY or around US$849 million in Java Integrated Industrial and Port Estate (JIIPE) in Gresik, East Java province. The company will construct a factory that makes the high-performance copper foil used in electric vehicle (EV) batteries with an annual output of 100,000 tons of electrolytic foil.
Tourism Industry Recovery
Following the successful inaugural F1H2O race in Toba Lake on Sunday (Feb 26), some investors have reportedly expressed their interests to build new hotels in the tourism destination. President Joko ‘Jokowi’ Widodo admitted a lot of things have to be fixed in the event and surrounding area, but we still have to appreciate the progresses made.