ANTANANARIVO - Five Indonesian SOEs, namely PT Timah (Persero) Tbk (TINS), PT Industri Kereta Api (Persero) or INKA, PT Kereta Api Indonesia (Persero) or KAI, PT Wijaya Karya (Persero) Tbk (WIKA), and PT Len Industri (Persero), will partner Malagasy mining SOE Kraoma SA to work on mineral development projects in Madagascar.
In a meeting with Malagasy Mining and Strategic Resources Minister Fidiniavo Ravokatra in Antananarivo, Madagascar on Monday (16/9), SOE Minister Rini Soemarno sent off representatives from Timah and INKA to participate in mineral development projects in the country. The meeting, said Ms Soemarno, was a follow-up to the 2019 Indonesia-Africa Infrastructure Dialogue (IAD) which took place in Bali in August.
“I am very pleased that five [Indonesian] SOEs are taking part in Madagascar’s mining sector. This shows that Indonesian companies are capable of competing globally,” Ms Soemarno wrote in an official statement, Tuesday (17/9).
In the initial stage, a memorandum of understanding (MoU) will be signed as a base of initial assessment and limited exploration activities to understand potential reserves and the collaboration between both countries. The collaboration will complement the planned partnership between Indonesia Railways Development Incorporated for Africa (IRDIA) and Kraoma to transport chrome from mines to cargo ports.
“The amount of investment and factory development will be adjusted to potential reserves and the economic values of the mines that will be developed,” said Ms Soemarno. (MS)