Insider Stories - Rusal, one of the crown jewel of Basic Element, a diversified business group owned by Russian billionaire Oleg Deripaska reassured its intention to invest in mineral processing facilities in Indonesia, a minister said on Tuesday.

MS Hidayat, Indonesia's industry ministry said Rusal plans to invest up to $6 billion in Southeast Asia's largest economy. To begin with, it plans to invest up to $3 billion to construct smelter that can process bauxite to alumina, before it can be processed further into aluminium.

Rusal is one of the biggest bauxite aluminium company, as it accounts for nearly 9 percent of the world's primary aluminium output.

"They ask for our assurance about the implementation of the 2009 mineral and coal mining law. I told them, ever since it was ratified, there is no turn back for us," Hidayat said.

"All this time, more than 40 tons of our ore-bauxite has been exported," the minister said, adding by giving added value, it can contribute more to the nation's economy.

The following is some excerpt from Hidayat's comments to journalists in Jakarta.

Q: So, when is the construction to begin?
A: "As soon as there is assurance. What they are worried about is that we will do a flip flop [in the policy to ban ore exports]."

Q: Where the factory will be?
A: In Kalimantan, as the biggest bauxite reserve is in Kalimantan.

Q: How serious they are?
A: Really serious, they have come here three times.

Q: Will there be a local partner?
A: They wanted to cooperate with Antam [PT Aneka Tambang Tbk]. I agreed Antam is a good SOE.

News on Rusal plans to invest here has been reported by:

- The Jakarta Globe, click here

- Embassy of the Russian Federation in the Republic of Indonesia. It published a joint Statement by President of the Russian Federation Vladimir V.Putin and the President of the Republic of Indonesia Susilo Bambang Yudhoyono, Jakarta, September 6, 2007. Click here for the link

- APEC 2013 CEO summit official website: Rusal CEO: We Love to Invest in Indonesia. click here for the link.