The proposed subscription provides Press Metal Group with the opportunity to secure a long term supply of alumina.
KUALA LUMPUR: Press Metal
Aluminium Holdings Bhd has agreed to pay US$80.2mil (RM331.5mil) for the subscription of a 25% stake in an alumina producer based in Bintan, Indonesia.
PT Bintan Alumina Indonesia (PT BAI) is currently in the midst of constructing a one million tonne aluminium oxide refinery project together with necessary facilities in Galang Batang, with expansion for another one million tonne.
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