MIND ID Prepares Investment Of More Than IDR 394.4 Trillion For The Next 5 Years

Rupiah (Photo: Antara)

JAKARTA - Mining BUMN Holding or MIND ID will prepare investment of more than US$25 billion or equivalent to Rp394.4 trillion for the next five years. The funds will be allocated to a number of strategic projects in the mining sector.

Director of Portfolio and Business Development MIND ID, Dilo Seno Widagdo revealed that of the total investment value prepared, 20 billion US dollars came from the company's equity.

Furthermore, Dilo Seno said that in this investment plan, the company still considers returns or returns. Where it is estimated that the returns obtained are around 12 to 15 percent.

"If we invest approximately 20 billion US dollars with returns that are approximately above 12 to 15 percent. That is the overall investment target. But, if MIND ID later we will fund it later, maybe our equity from MIND ID is more than that. But maybe the total value is more than that (25 billion US dollars)," he said at the MediaMIND event, in the SCBD area, South Jakarta, Tuesday, October 29.

Dilo Seno revealed several projects targeted by MIND ID. For example, the development of a project for refining and processing bauxite facilities, Smelter Grade Alumina Refinery (SGAR) Mempawah Phase II in Mempawah, West Kalimantan.

MIND targets that by developing the Phase II bauxite smelter project, the alumina production capacity in SGAR Mempawah can reach 2 million tons. Currently, the production has only reached 1 million tons.

"If our bauxite will move from the side of our Alumina Grade Smelter, which is now 1 million, we want to increase it to 2 million," he explained.

Then, continued Dilo Seno, MIND ID will also optimize aluminum production from 275,000 tons to 900,000 tons.

Furthermore, Dilo Seno said that another corporate action targeted by MIND ID was to increase the sale of new stones through its subsidiary, PT Bukit Asam Tbk.

Based on projection, he continued, coal sales volume in the next five years will reach 100 million tons. Meanwhile, currently, sales volume is at 40 million tons.

"Then after that, for Bukit Asam, we actually have a target for our momentum in the next five years, this is the sale of coal, now maybe we have 40 million, we want to be 100 million," he said.

Not only that, MIND ID through its business unit, PT Timah Tbk also targets mining markets abroad. One that will be targeted is the African continent.

"So maybe how we can get resources and reserves maybe we also see the potential that exists in Africa. If it's finished here, we must also be able to control the assets of resources outside, that's also another investment," he explained.

In addition to several projects targeted by the company, Dilo Seno on MIND ID also continues to develop raw materials for electric vehicles aka EV Battery. Including several other potential projects.