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Jakarta, May 24, 2010 - PT Indonesia Chemical Alumina (“PT ICA”) is pleased to announce the appointment of the consortium of WIKA Group as the Engineering, Procurement and Construction (EPC) contractor of the Tayan Chemical Grade Alumina project. PT ICA is a joint venture company between ANTAM (IDX-ANTM; ASX-ATM) and its international partners, Showa Denko K.K. and Marubeni Corporation of Japan.
The consortium of WIKA Group consists of PT Wijaya Karya (Persero) Tbk, Tsukishima Kikai Co. Ltd. and PT Nusea. Following the selection, PT ICA and the consortium of WIKA Group will begin the negotiation on the terms and condition of the EPC. PT ICA expects construction of the project to begin within this year, and is expected to start the commercial operation in 2014.
Currently, efforts to obtain the best optimum financing to fund the Tayan CGA project are well underway with possible support from the Japan Bank for International Cooperation (JBIC) and other reputable commercial banks.
The Tayan CGA project is located at Tayan, Sanggau Regency, West Kalimantan Province. The project is planned to produce 300,000 tons of CGA annually. The CGA products will be exported to Japan and other countries as well as for domestic sales in Indonesia.