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View all search resultsInitial investment for the Indonesia Green Industrial Park (IGIP) is expected to reach $2 billion, with total capital outlay gradually increasing to $8 billion, GEM founder and chairman Xu Kaihua told reporters on Saturday.
The Chinese investor has cited weak global demand and shifting market dynamics as reasons for the cutback, which comes on the heels of LG's announced withdrawal from a broad EVB supply chain project for similar reasons.
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