PTFI President Director Tours New Smelter Location with National Media Editors
26 August 2019
PT Freeport Indonesia President Director Tony Wenas recently showed off the site of the company’s newest construction project – the world’s largest copper smelter being built in Gresik, East Java to national media editors.
Smelter construction at Java Integrated Industrial and Port Estate will begin by the second quarter 2020 with operations to begin in 2023. It will be the world’s largest smelter and have a price tag of US$3 billion or approximately 45 trillion in Indonesian Rupiah.
The company already has spent around Rp 2 trillion (US$150 million) on preliminary development, including a guarantee bond deposit, site acquisition, design as well as site preparations on 100 hectares of land where the integrated smelter will stand.
According to PTFI Deputy President Director Orias Petrus Moedak, the company has commitments from 11 banks – three domestic and eight foreign – to finance the smelter project.
Wenas said he hopes the government will boost development of domestic downstream industries who would use the copper cathode production from Freeport smelters.
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