# Press Metal acquires 80% stake in PT Kalimantan Alumina Nusantara for RM1.04 billion

Press Metal Aluminium Holdings Bhd entered into agreements to acquire an 80% equity interest in PT Kalimantan Alumina Nusantara for RM1.04 billion. The joint venture will establish an integrated alumina refinery in Sanggau, West Kalimantan, Indonesia with Phase 1 capacity of 1-1.2 million metric tonnes per year.

- Type: Acquisition
- Announced: 2024-09-18
- Where: Sanggau, West Kalimantan, Indonesia
- Value: $240.0M (1.04B MYR)
- Status: announced
- Capacity: 1-1.2 million metric tonnes per year (Phase 1)
- Products: alumina
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Press Metal Aluminium Holdings](https://endata.com/companies/15797.md) (acquirer)
- [PT Kalimantan Alumina Nusantara](https://endata.com/companies/79905.md) (target)
- [PT Alakasa Alumina Refineri](https://endata.com/companies/79906.md) (partner)
- [PT Dinamika Sejahtera Mandiri](https://endata.com/companies/79907.md) (partner)

## Sources

- [thestar.com.my](https://www.thestar.com.my/business/business-news/2024/09/18/press-metal-acquiring-80-stake-in-pt-kalimantan-alumina-nusantara-for-rm104bil), 2024-09-18: "Press Metal Aluminium Holdings Bhd (PMAH) has entered into a shareholders’ agreement and a share subscription agreement for 80 per cent equity interest in PT Kalimantan Alumina Nusantara (KAN) for RM1.04 billion."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.