5 Indonesian SOEs to Work on Mining Projects in Madagascar

    Antara - 17 September 2019 14:58 WIB
    5 Indonesian SOEs to Work on Mining Projects in Madagascar
    Illustration (Photo:Medcom.id/M Rizal)
    Jakarta: Five Indonesian State-Owned Enterprises (BUMNs) will be working on mineral and mining transportation projects in Madagascar, as BUMN Minister Rini Soemarno supervised it.

    The BUMNs to be involved in the projects encompass PT Timah, as a tin mining exploration company; PT INKA and PT Kereta Api Indonesia, as transportation companies; PT Wijaya Karya, as a construction company; and PT LEN Industri, as an industrial electronic company.

    "I am pleased as five BUMNs will have roles to develop Madagascar's mining sector. This could be considered, thus demonstrating that Indonesians have the capability to compete in the global market," Rini noted in a statement received in Jakarta, Tuesday.

    To initiate the business expansion of BUMNs, Rini held a meeting with Minister of Mining and Strategic Resources of Madagascar Fidiniavo Ravokatra in Antananarivo, Madagascar, Monday (Sept 16), to discuss cooperation between both nations following a discussion at the Indonesia-Africa Infrastructure Dialogue (IAD) 2019 in Bali on August.

    The projects will be handled along with Madagascar's State-Owned Enterprise on mining, Kraoma SA.

    As the initial step, Indonesia and Madagascar will have signed a memorandum of understanding to conduct assessments and limited exploration to gauge the potential resources and form of cooperation pertinent to be taken up later.

    This partnership is projected to complete the plan of the consortium of Indonesian Railways Development Incorporated for Africa (IRDIA) and Kraoma whose first project pertains to construction to transport chrome products from the Brieville mining area to the port of Tamatave, spanning 220 kilometers.

    "The amount of investment and factory building will be aligned with the potential resources and economic aspect of the mining area," Rini pointed out. (Antara)


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