Support Sustainable Downstreaming, Freeport Wins Indonesia Most Visionary Company Award 20
08 March 2024
Vice President Director of PT Freeport Indonesia (PTFI) Jenpino Ngabdi symbolically received the Indonesia Most Visionary Company with Expansion and Downstreaming Initiatives to Enhancing Production Capacity award at the Indonesia Most Visionary Companies Award 2024 which took place in Jakarta, Thursday (7/3).
“This appreciation is very valuable for us and motivates us to continue working for Indonesia. "PTFI fully supports the government's downstream program to provide added value," said Jenpino in a speech after receiving the award handed over by CEO and Chief Editor of Warta Ekonomi Muhamad Ihsan.
PTFI has invested up to 3.1 billion US dollars or the equivalent of IDR 48 trillion as of the end of December 2023 to build a second copper smelter. According to the plan, the largest Single Line Design smelter will start operating in June 2024, and produce in August 2024 to reach full production capacity of 1.7 million tons of copper concentrate by the end of 2024.
PTFI has also expanded its first smelter capacity through PT Smelting to 1.3 million tons per year with an investment value of up to 250 million US dollars or the equivalent of IDR 3.7 trillion.
CEO and Chief Editor of Warta Ekonomi Muhamad Ihsan in his speech said that the Indonesia Most Visionary Companies award was given to companies that have created long-term value for all stakeholders. Companies can realize a holistic and sustainable approach amidst complex challenges.
"There are three assessment indicators in this award, namely creativity, adaptability and resilience. "PTFI is considered to meet all these indicators," said Ihsan.
Ihsan explained that in terms of creativity, PTFI is a forward-looking company that can process natural resources from a very difficult geography so that it is beneficial for Indonesia.
In terms of adaptability, PTFI can survive various challenges and unpredictable government periods, but the company can always survive.
Lastly, resilience, PTFI always provides huge dividends to Indonesia, so it appears that the company can survive in the long term
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