PT Indonesia Asahan Aluminium (Persero), known as Inalum, has\nconfirmed its commitment to maintaining sustainable performance after\nreceiving an international credit rating of BBB- with a stable outlook\nfrom S&P Global Ratings, which simultaneously strengthens the\ncompany\u2019s credibility in the financial market.<\/p>\n
Inalum President Director Melati Sarnita stated that this rating\nachievement serves as both recognition and momentum for the company to\ncontinue strengthening its business fundamentals and driving the\nsustainable transformation of the national aluminium industry.<\/p>\n
\u201cThis investment grade is both a recognition and a responsibility for\nInalum to continue maintaining company performance prudently and\nsustainably. Amidst our expansion and downstreaming agenda, we will\nensure that growth does not merely pursue scale but remains built upon\nstrong operational fundamentals, financial discipline, and robust good\ngovernance,\u201d she said in an official statement in Jakarta on Friday.<\/p>\n
The rating was assigned by S&P Global Ratings in a report\npublished on 7 September 2026.<\/p>\n
The rating agency assessed Inalum\u2019s strategic position within the\nMIND ID Group and the strong government support provided through MIND ID\nto the company.<\/p>\n
S&P Global Ratings also noted that Inalum plays a vital role in\ndriving bauxite downstreaming and developing the national aluminium\nvalue chain, in line with the strategic agenda of MIND ID as a\nstate-owned enterprise to strengthen the integrated mineral and metal\nindustry in Indonesia.<\/p>\n
According to Sarnita, this international rating complements the\nstrengthening of Inalum\u2019s credit profile in the domestic market. In\nAugust 2026, Pefindo upgraded Inalum\u2019s rating by one notch from\nidAA-\/Stable to idAA\/Stable, after the company had maintained an\nidAA-\/Stable rating for the previous three years.<\/p>\n
This rating upgrade comes as Inalum prepares to increase funding\nrequirements to support various aluminium downstreaming projects during\nthe 2026-2029 period.<\/p>\n
Efficiency is supported by a stable supply of hydro energy and the\nintegration of domestic raw material sources. This cost advantage is\nconsidered one of Inalum\u2019s credit strengths and provides the company\nwith resilience against global aluminium price dynamics.<\/p>\n
The use of hydroelectric power is also seen as enabling Inalum\u2019s\nsmelter to not only contribute to carbon emission reductions but also\nsupport the company\u2019s profitability and production cost efficiency.<\/p>\n
Currently, Inalum operates a primary aluminium smelter with a\nproduction capacity of approximately 275,000 tonnes per year. Through\nits majority ownership in PT Borneo Alumina Indonesia (BAI), Inalum has\nalso addressed the dependency on imported alumina raw materials.<\/p>\n
BAI operates the Smelter-Grade Alumina Refinery 1 (SGAR 1) in\nMempawah, West Kalimantan, with a capacity of approximately 1 million\ntonnes of alumina per year.<\/p>\n
Furthermore, the company\u2019s role is being further strengthened through\nthe development of SGAR 2 and Aluminium Smelter 2 (Smelter 2) as part of\nthe National Strategic Projects (PSN) aimed at strengthening the\nintegration of the national aluminium value chain.<\/p>\n
SGAR 2 is planned to add an alumina production capacity of\napproximately 1 million tonnes per year, thereby doubling the total\nalumina production capacity.<\/p>\n
Meanwhile, Smelter 2 is designed with a production capacity of\napproximately 600,000 tonnes of aluminium per year. With these\nadditions, Inalum\u2019s total primary aluminium smelter capacity is expected\nto increase more than threefold compared to its current capacity.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/inalum-achieves-stable-outlook-ensures-sustainable-performance-maintenance-1789114123", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }