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Hyundai Motor, PT Adaro Minerals Indonesia Sign MoU To Secure Aluminum Supply

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(RTTNews) – Hyundai Motor Co. (HYMLF.OB, HYMTF.OB) said that it has signed a Memorandum of understanding with PT Adaro Minerals Indonesia Tbk. or AMI to secure a stable aluminum supply amid the growing demand for aluminum for automobile manufacturing.

The companies will establish a comprehensive cooperative system regarding the production and supply of aluminum by AMI through its subsidiary PT Kalimantan Aluminium Industry (KAI).

Aluminum in Indonesia is rich in natural resources and energy. Indonesia’s green aluminum is classified as low-carbon aluminum using hydroelectric power generation, which is an eco-friendly power source and is expected to supply aluminum that meets HMC’s carbon neutralization policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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