Jakarta - PT Adaro Energy Tbk (ADRO) through PT Adaro Aluminum Indonesia signed a letter of intent to invest US$728 million to build an aluminum smelter in Indonesia's largest Green Industrial Estate in the world, which PT Kalimantan Indonesian Industrial Park is building.

"In line with Adaro's commitment to business transformation through a long-term green initiative, we are investing in building an aluminum smelter to support the industrial downstream program launched by the government," said Adaro Deputy President Director Ario Rachmat in an official statement on  Thursday (23/12).

Through this investment, the company hopes to help reduce aluminum imports, provide processing and added value to alumina, and increase state tax revenues. We also hope that the aluminum industry in North Kalimantan can bring in a lot of continued investment and create jobs for the community.

Adaro will also work with partners from abroad who already