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RI secures $7.5b in fresh investment pledges from China
The investment minister has rustled up $7.46 billion in investment commitments during his China visit last week for a variety of projects, from plastics to power, in line with the government's overarching aim to reach food and energy security.
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Investment Minister Rosan Roeslani greets guests on Aug. 19, 2024, after a ceremony at the Investment Ministry in Kebayoran Baru, South Jakarta. (JP/Deni Ghifari)
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ndonesia has secured US$7.46 billion in investment commitments from China to build fiberglass and petrochemical facilities as well as to develop a new industrial estate, the Investment and Downstream Ministry announced in a press statement on Friday.
During his China visit from Dec. 18 to 20, investment minister Rosan Roeslani met with representatives of eight local companies to discuss existing investments and new pledges.
“We asked global investors to get involved in the renewable energy sector, because that is in line with Indonesia’s target of reaching net-zero emissions in 2060 or sooner,” Rosan said in the statement.
The lion’s share of new pledges comes from Hongshi Group, which already operates in Indonesia through its cement manufacturing subsidiary PT Semen Imasco Asiatic.
Hongshi has promised investment worth $5 billion for a new industrial estate specializing in solar panels and components. The estate is slated to produce silicon and polysilicon, as well as finished goods, including batteries.
The plan includes the construction of a 2-gigawatt steam power plant.
The ministry did not provide further details about either the power plant or the industrial estate in its statement.
