{
    "success": true,
    "data": {
        "id": 1458573,
        "msgid": "antam-seeks-financing-for-massive-bauxite-project-1447893297",
        "date": "2004-09-07 00:00:00",
        "title": "Antam seeks financing for massive bauxite project",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Antam seeks financing for massive bauxite project The Jakarta Post, Jakarta State-owned mining company PT Aneka Tambang (Antam) said it would seek financing for its massive bauxite processing project in Tayan, West Kalimantan, next year after it completed negotiations with overseas partners to form a joint venture for the project.",
        "content": "<p>Antam seeks financing for massive bauxite project<\/p>\n<p>The Jakarta Post, Jakarta<\/p>\n<p>State-owned mining company PT Aneka Tambang (Antam) said it<br>\nwould seek financing for its massive bauxite processing project<br>\nin Tayan, West Kalimantan, next year after it completed<br>\nnegotiations with overseas partners to form a joint venture for<br>\nthe project.<\/p>\n<p>\"We expect to start seeking financing for the project next<br>\nyear after we sign a joint venture deal for the project with our<br>\npartners,\" said Antam President Director Dedi Aditya Sumanagara<br>\nduring a meeting with the House of Representatives' energy and<br>\nmining commission on Monday.<\/p>\n<p>Dedy said that there were several companies from Japan that<br>\nwere potentially interested in forming a joint venture. However,<br>\nhe refused to disclose their names.<\/p>\n<p>Publicly listed Antam has appointed investment bank Citigroup<br>\nas its advisor to review possible options in financing the<br>\nestimated $220-million project.<\/p>\n<p>With the Tayan project, Antam plans to produce up to 300,000<br>\ntons of chemical grade alumina (CGA) per year. CGA is used for<br>\nvarious commercial and industrial purposes, such as the<br>\nmanufacturing of ceramics, paint, spark plugs and toothpaste.<\/p>\n<p>Dedy said that Antam was currently engaged in tough<br>\nnegotiations with the companies concerning the terms of the<br>\ncontract and sales agreement for the project.<\/p>\n<p>\"The joint venture is expected to consist of three companies,<br>\nincluding ourselves, with a 40 percent share pattern for us. The<br>\nagreement is scheduled to be completed by the end of this year,<br>\nbut remember that these agreements are complex affairs as they<br>\nrequire the approval of all the shareholders,\" he said.<\/p>\n<p>Antam shares ended Rp 25 lower at Rp 1,275 on the Jakarta<br>\nStock Exchange on Monday. Antam is 65 percent owned by the<br>\ngovernment, with the rest of the shares being held by the<br>\ninvesting public.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/antam-seeks-financing-for-massive-bauxite-project-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}