Govt Looks for Smelter Investors through Market Sounding

The Energy and Mineral Resources (ESDM) Ministry plans to carry out a market sounding to find investors for smelter projects in Indonesia to several countries this year. The ministry's Mineral Business Development Director, Sugeng Mujiyanto, said that his side would participate in business forums or international events to promote the projects. "This year, we will carry out the market sounding in the United States, European Union countries, Asia, Japan, and so on. We are preparing it and hope that in the second semester, we will start it in various forums to market our smelters," he explained on Thursday (4/15).

The market sounding exercise is one of the ESDM Ministry's facilitate for smelter construction projects. Besides, Sugeng elaborated, the government has also provided supporting regulations such as through Energy and Mineral Resources Ministerial Regulation No. 17/2020. It also allows smelter companies to change the S curve of the development plan until 2023. "Smelter constructions are expectedly completed in 2023. However, the pandemic means that the owners may adjust the S curve if they fail to reach the target in the coming years. But, we still expect them to complete the project in 2023," he explained.