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EGA-Inalum sign MoU for aluminium expansion
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EGA, as one of the providers of aluminium smelter technology, is ready to invest in Indonesia considering energy prices and renewable energy sources.
Emirates Global Alumunium, the largest aluminium company in the Middle East signed a memorandum of understanding with PT Inalum (Persero) regarding a strategic alliance to increase Inalum's aluminium by 400 thousand tonnes per year. The memorandum of understanding is a follow-up action to President Joko Widodo's visit in November 2022.
The Indonesian Ambassador to PEA Husin Bagis positively welcomed the signing of the cooperation between the two largest aluminium production companies in each country. "The EGA-Inalum cooperation is highly expected because the President has declared the importance of mineral downstreaming for Indonesia," he said in an official statement to the media.
According to Husin, EGA, as one of the providers of aluminium smelter technology, is ready to invest in Indonesia considering energy prices and renewable energy sources. "This investment cooperation is expected to be one of the deliverables of the G-20 presidency," he continued.
Present at the event were CEO of Dubai Electricity Water Authority, Saeed Muhammad Al Tayer, who is also the vice-chairman of EGA, CEO of Mubadala UAE Investment, Musabbeh Al Kaabi, who is also the Board of Member of EGA, and the secretary of the Ministry of National Development Planning/Bappenas Himawan Hariyoga.
Inalum CEO Hendi Prio Santoso added that Inalum invited EGA to enter the aluminium industry value chain from upstream, midstream to downstream. "We want it to move faster so that the signed MoU can be implemented immediately," he said.
EGA CEO Abdulnasser bin Kalban said that EGA will soon open an office in Indonesia as soon as the signed MoU is implemented. "Currently EGA's production has reached 2.5 million tonnes per year, cooperation with Inalum will increase our growth unorganically," he concluded. — business@khaleejtimes.com
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