ASIATODAY.ID, JAKARTA – The explosion of the PT Indonesia Tsingshan Stainless Steel (ITSS) nickel smelter in the Indonesia Morowali Industrial Park (IMIP), Central Sulawesi became a wide focus.
The reason is, the incident resulted in 12 people being killed and dozens of others being injured.
Due to this incident, the public is now highlighting the Chinese company that owns the smelter. So, who is PT Indonesia Tsingshan Stainless Steel (ITSS)?
Quoted from Minerba One Data Indonesia (MODI) Ministry of Energy and Mineral Resources, ownership of PT ITSS is controlled by Bintang Empat Mineral at 20% and Shanghai Decent Investment or the parent of Tsingshan Holding Group which owns 80% of the shares.
The steel and nickel giant from China has invested in Indonesia since 2009 and is focused on developing the nickel processing industry.
PT ITSS is currently located at Industri Indonesia Morowali Industrial Park (IMIP) as area manager. Meanwhile, its parent company, namely Tsingshan Holding Group, has been established since the 1980s and focuses on producing and smelting stainless steel.
This multinational company has spread its wings in Indonesia, Singapore, the United States and other countries.
In the Morowali Industrial Area, Tsingshan and Bintang Empat Group invested around $6 billion. Through this investment, Indonesia is said to be one of the stainless steel producers that is taken into account in the global market.
Not only in the Morowali industrial area, Tsingshan is also interested in investing in other industrial areas, such as the Weda Bay Industrial Park (IWIP) and Tanah Kuning.
The Indonesian Ministry of Industry previously stated that a company from China, Tsingshan Holding Group, was looking at investment opportunities in the Tanah Kuning industrial area, North Kalimantan. Tsingshan plans to build an integrated ferronickel complex in the area with an investment value of up to $28 billion.
This company wants to work on an integrated metal refining complex by building a ferronickel factory with a capacity of 1.5 million tons, ferrochrome 1.2 million tons, stainless steel 1.2 million tons, manganese 0.5 million tons, ferrosilicate 0.2 million tons, carbon steel 10 million tons, and 1 million tons of alumina, as well as building a hydropower plant of 7,200 megawatts.
Meanwhile, Tsingshan is also one of three joint venture companies from China investing in Indonesia Weda Bay Industrial Park (IWIP), Central Halmahera. Meanwhile, the three investors, namely, Tsingshan, Huayou, and Zhenshi.
The Weda Bay industrial area is said to have involved a total investment of $10 billion, which is the realization of an agreement between the Eramet group (France) and Tsingshan together with local partners, namely PT Aneka Tambang (ANTAM) Tbk. (AT Network)
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