Press Metal to invest RM1bil in third refinery

The new refinery is expected to have an annual production capacity of one to 1.2 million tonnes under Phase One.

PETALING JAYA: Press Metal Aluminium Holdings Bhd will be investing RM1.04bil in cash for its new alumina refinery joint-venture (JV) in West Kalimantan, Indonesia.

This will be the third refinery of Press Metal, owned by Malaysia’s fifth richest man Tan Sri Paul Koon Poh Keong and his brothers.