He mentioned that President Joko Widodo (Jokowi) had instructed BKPM to seek investors not only in the nickel, copper, or tin sector.
"We have one of the largest reserves of quartz sand in the world. It is the main raw material to produce glass and solar panels, which are needed in the green industry," he said during a presentation on investment realization in the second quarter of 2023 in Jakarta.
Therefore, he shared that they are exploring cooperation with the Xinyi Group, the world's largest glass company in China, which is interested in investing in Rembang, Batam, Riau Islands.
"Xinyi is the world's leading glass manufacturing company, controlling more than 20 percent of the world's market share. I visited them some time ago, and they expressed interest in investing in Rembang," Lahadalia informed.
As directed by President Jokowi, he has coordinated with the related ministry, Batam Concession Agency (BP Batam), as well as landowners to support the Chinese investor's investment plan.
Though he was reluctant to provide further details on the results of the visit, including the value of the planned investment from China, Lahadalia assured that the results were quite positive.
He also mentioned that Xinyi Group is planning to build the second-largest glass factory in the world in Indonesia, second only to its main facility in China.
It is expected that the factory will later make Indonesia one of the world's largest solar panel suppliers, he added.
"We do not want Indonesia to advance in the nickel sector only. We also want to utilize the quartz sand. We do not rule out the possibility that in the future, we will also ban quartz sand export," he said.
Xinyi Group, the parent company of Xinyi Glass and Xinyi Solar, is a Hong Kong-based multinational with operations worldwide.
The company is one of the largest glass producers, with a wide range of glass products used in the automotive, construction, and energy sectors.
Xinyi Group is also the global leader in solar panel manufacturing, leveraging advanced and sustainable technologies to support the global transition to renewable energy.
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Translator: Ade Irma J, Resinta S
Editor: Anton Santoso
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