Antam?s CGA plant expected to begin operation in 2015
Monday, August 27 2012 - 12:55 AM WIB
IDX-listed mining company PT Aneka Tambang Tbk (Antam) expects its chemical grade alumina (CGA) plant which is now under construction in Tayan, West Kalimantan will begin commercial operation in 2015.
?We hope the CGA plant will be able to begin operation in early 2015. Our main market target is Japan,? Antam?s president director Alwinsyah Lubis said in Jakarta recently.
The CGA plant which will have a capacity to process bauxite into alumina of about 300,000 tons a year, is currently being built PT Wijaya Karya (Wika), PT Nusantara Energi Abadi (Nusea) and Tsukishima Kikai Co.Ltd of Japan. The construction has been underway since last year.
Antam has an 80 percent stake in the CGA project with the remaining 20 percent being held by Showa Denko KK. The two companies have established a joint venture ? PT Indonesia Chemical Alumina (ICA) to operate the CGA plant.
The joint venture has received loan worth US$450 million from Japan Bank for International Cooperation (JBIC) and Mizuho Bank to partly finance the project.
?The project is expected to generate annual revenues of about US$200 million for ICA,? Alwinsyah said.
Editing by Adianto P. Simamora