Adaro Minerals' Aluminum Smelter to Reach Financial Close in June

By Editorial Team 11/05/2023
Smelter
Summary

PT Adaro Minerals Indonesia Tbk (ADMR), a subsidiary of PT Adaro Energy Indonesia Tbk (ADRO), has aimed to achieve financial close with multiple banks to secure funding for its green aluminum smelter project in Indonesia's Green Industrial Zone, North Kalimantan. The project requires approximately US$2 billion in investment for the alumina processing facility.

Although the company is currently finalizing the smelter financing with various banks, it refused to disclose the details. "We aim to sign or finalize the agreements with these banks before the end of the second quarter," Adaro Minerals Indonesia Director Wito Krisnahadi said on Wednesday.

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