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Press Metal Buys 25% Stake in PT Bintan Alumina Indonesia

Metal News - Published on Mon, 18 Nov 2019

Image Source: thestar.com.my
Press Metal Aluminium Holdings Bhd has bought a 25% stake in PT Bintan Alumina Indonesia for USD 80.23 million for long-term supply of alumina. PT Bintan is building a one million tonnes per annum alumina refinery plant in Galang Batang in Indonesia and future expansion will add another one million tonnes. Press Metal plans to buy at least half of alumina produced before completion of the project and up to 1.5 million tonnes after the completion.

Group CEO Mr Tan Sri Paul Koon said “Together with our earlier acquisition of Worsley, we will be able to cover about 80% of our enlarged alumina requirements moving forward. This will strengthen us vertically and provide us an edge as we remove some uncertainties or supply constraints which could lead to operational disruptions.”

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Posted By : Rabi Wangkhem on Mon, 18 Nov 2019
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