25 FEBRUARY 2014AlCircle.com
Rusal signs MoU with Arbaya Energi to develop an alumina smelter in Indonesia
Edited by : AL CIRCLE
1 min read
United Co. Rusal PLC signed a MoU with PT Arbaya Energi to develop an alumina smelter in West Kalimantan province of Indonesia
The two companies will "work together to develop the appropriate resources and infrastructure investment," Rusal said in a statement.
Rusal didn’t talk about its investment, but Hatta Rajasa, Coordinating Minister for Economic Affairs of Indonesia, told The Wall Street Journal t the agreement represents a sum of around $3 billion investment of around $3 billion-- half of the investment for the smelter and rest for supporting infrastructure like ports and roads.
"The concrete projects are to be identified in due course and agreed by both companies," Rusal added.
Indonesia has barred mineral ore exports as it seeks to increase its exports value via domestic processing.
"We have long stated our desire to expand into this important Southeast Asian market, given its increasing prominence on the global mining stage," Rusal Chief Executive Oleg Deripaska said.
The two companies will "work together to develop the appropriate resources and infrastructure investment," Rusal said in a statement.
Rusal didn’t talk about its investment, but Hatta Rajasa, Coordinating Minister for Economic Affairs of Indonesia, told The Wall Street Journal t the agreement represents a sum of around $3 billion investment of around $3 billion-- half of the investment for the smelter and rest for supporting infrastructure like ports and roads.
"The concrete projects are to be identified in due course and agreed by both companies," Rusal added.
Indonesia has barred mineral ore exports as it seeks to increase its exports value via domestic processing.
"We have long stated our desire to expand into this important Southeast Asian market, given its increasing prominence on the global mining stage," Rusal Chief Executive Oleg Deripaska said.
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