It has reached Stage 1. It will be home to the world's largest petrochemical industry. In addition, electronic alumina, steel, and new energy battery industries, which will produce 3 million electric cars, will operate there. So we (will) become a gaJakarta (ANTARA) - Indonesia is expected to be a game changer in promoting a balance between meeting the industry’s energy needs and fulfilling the new and renewable energy use commitment.
Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan made the remarks during the “Investor Daily Summit 2022” here on Wednesday in connection with the development of an integrated green industrial estate in North Kalimantan province.
The project, which will cost an estimated US$132 billion, is scheduled for completion in 2029.
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"It has reached Stage 1. It will be home to the world's largest petrochemical industry. In addition, electronic alumina, steel, and new energy battery industries, which will produce 3 million electric cars, will operate there. So we (will) become a game changer," he said.
The industrial estate will also be equipped with a 10 GW solar panel and a 10 GW hydropower plant, and create 160 thousand jobs, the minister informed.
In addition, the government is also promoting the development of downstream industries to give added value to mineral resources, such as nickel, coal, cobalt, bauxite, copper, and tin, he added.
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The downstream industry has proven that it is capable of generating significant added value, with the export of raw commodities, which stood at US$1.2 billion in 2015, expected to swell to US$29 billion in 2022.
He said he believes that the development of the green industrial estate, coupled with the development of downstream industries in North Kalimantan, will significantly boost the country's exports and raise the national gross domestic product (GDP) to up to US$3.5 trillion.
"I think we will be able to do so if we play the game with coal, tin, cobalt, bauxite, and copper. We will play the game until semiconductor with green energy. So which country will beat us? Nobody can beat us," he remarked.
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Translator: Ade irma Junida, Suharto
Editor: Fardah Assegaf
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