Indonesia has launched the development of two aluminium plants at Weda Bay as part of new industrial projects worth billions of dollars. President Prabowo Subianto announced the projects on Thursday and said the government was committed to protecting investments.
The four projects launched at the industrial park are worth around USD 3 billion. Investment in six other projects is expected to reach around USD 7 billion, Investment Minister Rosan Roeslani said at the event.
Among the companies investing in the projects are PT Weda Bay Aluminium, PT Guang Ching Nickel Cobalt and PT Flatsolar Energy Indonesia, according to the Investment Ministry.
The new construction projects include two aluminium plants, facilities for nickel-based battery materials and battery components, and a plant for photovoltaic glass used in solar panels.
Prabowo also launched the first exports of electric vehicle batteries produced by REPT Battero.
He said, “I emphasise here an Indonesian government commitment to respect and safeguard all investments, from wherever.”
The Weda Bay industrial park is partly controlled by Chinese steelmaker Tsingshan Holding Group.