Press Metal acquiring 80% stake in PT Kalimantan Alumina Nusantara for RM1.04bil

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KUALA LUMPUR: Press Metal Aluminium Holdings Bhd (PMAH) has entered into a shareholders’ agreement and a share subscription agreement for 80 per cent equity interest in PT Kalimantan Alumina Nusantara (KAN) for RM1.04 billion.

Koon noted that the collaboration will also reduce the company’s reliance on third-party suppliers and traders, ensuring greater operational resiliency and efficiency.

"The refinery is expected to have an annual production capacity of 1 to 1.2 million metric tonnes (Phase 1), with a potential expansion to double this output.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIndonesia

Topics: Corporate News Press Metal Paul Koon Share subscription Aluminium /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-18 @ 18:30:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 378 words

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Sentences: 16 lines

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Copyright Owner: © The Star

News ID: 22577217

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