Malaysia's Press Metal inks alumina refinery JV in Indonesia push

Sept 18 (Reuters) - Malaysia's Press Metal Aluminium PMET.KL on Wednesday said it is setting up a joint venture with three Indonesian firms for an alumina refinery plant with the total cost for the first phase being $750 million. Under the joint venture, Indonesian company PT Kalimantan Alumina Nusantara will establish and operate an integrated integrated alumina refinery plant, power plant, jetty and supporting infrastructure in Indonesia. Press Metal, Southeast Asia's largest aluminium smelter will also take an 80% stake in PT Kalimantan Alumina for 1.04 billion ringgit ($245.17 million). ($1 = 4.2420 ringgit) (Reporting by Sneha Kumar) (([email protected];))