Summary of Proposed Investment
Project Number
7789
Company Name
ALUMINDO LIGHT METAL INDUSTRY, PT TBK
Date SPI Disclosed
Nov 4, 1996
Country
Indonesia
Industry
Manufacturing
Status
Completed
Sector
Aluminum
Department
Regional Industry - MAS Asia & Pac
Environmental Category
B - Limited
Previous Events
Approved : Mar 14, 1997
Signed : Jun 25, 1997
Invested : Oct 20, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Indonesia - P.T. Alumindo Light Metal Industry |
| Region | Asia |
| Sector |
Projected Board DateDecember 23, 1996
Company NameP.T. Alumindo Light Metal Industry
Technical Partner and/or Major Shareholders
P.T. Alumindo Light Metal Industry is a member of Maspion, an important business group in East Java and the largest manufacturer of kitchenware in Indonesia. Maspion is diversified, with main activities in aluminum, stainless steel, steel, plastic, electronics and chemicals. The Maspion Group is 100% owned by the Alim and Gunardi families of Surabaya. Alumindo has signed a technical assistance agreement with Hoogovens from Netherlands, which is helping the commissioning of a new hot rolling line and the workers’ training.
Project Cost Including proposed IFC investment
Total project cost is estimated at US$93.0 million; IFC’s proposed investment consists of an A loan of US$10.0 million and a B loan of US$25.0 million.
Location of project and Description of site
The Project will be located adjacent to Alumindo’s present production site in Sidoarjo, near Surabaya, the capital of East Java and the second largest city in Indonesia.
Description of Company and Purpose of Project
Alumindo started its operations in 1978, and now is the largest manufacturer of rolled aluminum products in Indonesia with about 52% share of sheet production and 76% share of foil production. The proposed project is to expand Alumindo’s aluminum rolling capacity from the current 42,000 tons per year to 84,000 tons per year and to upgrade its technical ability by installing new hot roll mill, cold roll mill and other auxiliary equipment. The proposed expansion and modernization project will allow Alumindo to (i) meet the growing local and regional demand, (ii) lower its costs, increase productivity and improve product quality, (iii) upgrade workers skills, and (iv) improve Alumindo’s overall competitiveness.
Environmental Category and Issues
This is a category “B” project under IFC’s environmental review procedure. The Project is being designed to fully comply with all the relevant Indonesian and World Bank guidelines.
The is November 8, 1996 from the Public Information Center.
| Host country location of environmental documents | Indonesia |
Date SPI sent to PIC November 4, 1996
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
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