PT Antam (Persero) Tbk

GE Signs Memorandum of Understanding to develop Cleaner Power, Reduce Cost and Improve Energy Management in Indonesia
Home arrow News, Reports and Presentations arrow News Releases

Jakarta, September 24, 2013 - General Electric (NYSE:GE) today signed a Memorandum of Understanding (MoU) with PT ANTAM (Persero) Tbk (ASX-ATM; IDX– ANTM; ANTAM) and PT Bukit Asam Tbk to explore opportunities for developing a new Integrated Virtual Pipeline and clean coal fired power plant that will help both companies in saving energy costs. The two organizations will also explore alternative energy options such as natural gas, low rank coal, and coal bed methane to power their mining operations sites.

GE's Vice Chairman and President and CEO of Global Growth and Operations, John G. Rice, who is on a visit to Indonesia, witnessed the signing of a Memorandum of Understanding between GE, ANTAM and PT Bukit Asam Tbk.

The cooperation will help reduce energy cost by optimizing both the energy generation mix and the distribution. Alternative fuel sources that will be assessed include gas conversion, low rank coal gasification, and coal bed methane.

In addition, GE will also support ANTAM and PT Bukit Asam Tbk with technologies that will help mining operations by improving process and asset optimization, and improve safety performance with Collision Avoidance Systems.

"Energy efficiency, improved productivity and safety are very critical in our mining operations," said Tato Miraza, President Director of ANTAM. "The Integrated Virtual Pipeline solution package from GE allows us to generate cleaner electricity from natural gas efficiently to support our mining operations and we're proud to be one the first mining companies in Indonesia to implement this technology." The technology is planned to be implemented in ANTAM's ferronickel smelters in Pomalaa, Southeast Sulawesi, and East Halmahera Ferronickel Project, North Maluku.

Milawarma, President Director of PT Bukit Asam Tbk, said, “Energy cost is one of the biggest costs that our company has to incur. We have taken a number of measures to save energy costs in our operation. This partnership will allow us to utilize alternative fuel sources that will significantly save energy costs further.”

In addition to providing its technology, GE will also collaborate with ANTAM and PT Bukit Asam, Tbk in developing talent by leveraging GE leadership best practices and technical expertise.

Handry Satriago, CEO and President GE Indonesia, said, "GE is committed to building innovative solutions for today's environmental challenges while driving economic growth for our customers. Today's announcement demonstrates our commitments towards helping our customers save energy costs and reduce their environmental impact, as well as contributing to the government's target of reducing carbon emissions by 26 percent by 2020."

In these partnerships, GE is bringing technology from its ecomagination portfolio. To qualify for the portfolio, products and services must demonstrate both improved economic value and environmental performance. Ecomagination is GE's commitment to provide innovative solutions that maximize resources, drive efficiencies and make the world work better.

Print
 
Why Invest in Antam Annual Financial Highlights Reserves & Resources Sustainable Development
Current Share Price
Last1095
Change-25
Open1130
High1130
Low1090
Volume363622
Date19 AUG 2019 11:04:20
Detail
Currency Rate
Currency Sell Buy
AUD96479631
EUR1576915753
JPY134134
SGD1026910254
USD1421814203
Precious Metals Prices

PT Antam (Persero) Tbk

Base Metals Prices

PT Antam (Persero) Tbk