Home / Knowledge / News / Textiles / Jakarta to welcome foreign investment in petrochem sector

Jakarta to welcome foreign investment in petrochem sector

Aug '19
Pic: Shutterstock
Pic: Shutterstock
Indonesian industry minister Airlangga Hartarto recently said the country will welcome foreign investment in the petrochemical sector based on the meetings with foreign investors. Government officials have been actively discussing the issue with foreign investors, especially the United Arab Emirates (UAE), in the past two weeks, Airlangga said in a statement.

Based on a government road map called Making Indonesia 4.0, the chemical industry is one of the five sectors that will become the pioneers in the application of industry 4.0 in the country.

Hence, the chemical industry should be developed to become more productive, innovative, and competitive in the global scene, a news agency quoted the minister as saying.

The ministry held a meeting with the UAE minister of energy and industry Suhail Mohamed Faraj Al Mazrouei during which the investment plan of a UAE company Mubadala was discussed. Mubadala is eager to collaborate with PT Chandra Asri Petrochemical, he said.

Mubadala is committed to investing $2.5 billion. This investment value is half of the total investment required to develop new facilities that will produce olefins and polyolefins that are expected to reduce dependence on imported raw materials.

China Petroleum Corporation (CPC) Taiwan also plans to disburse its funds in Indonesia in cooperation with PT Pertamina (Persero).

The government is awaiting follow-up negotiations between the two companies to develop an integrated complex of petrochemical industry in Balongan, Indramayu, West Java. CPC Taiwan’s investment is around $8.62 billion. (DS)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Textiles | On 26th Aug 2019

Steps suggested to keep Indonesian textile sector healthy

Amid concerns over the Indonesia's textile industry's future because...

Pic: Shutterstock

Apparel/Garments | On 26th Aug 2019

Omni-channel distributor Staunch enters Indian IoT retail

Asia's omni-channel distributor Staunch recently announced its...

Pic: Shutterstock

Fashion | On 26th Aug 2019

5 start-ups in Kenya's 3rd Fashion Product Lab

Metta Nairobi, in partnership with Hivos East Africa, will bring five ...

Interviews View All

Veronique Lee, Modavanti

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Janak Dhamanwala & Sunil Dhamanwala, Jansun

Janak Dhamanwala & Sunil Dhamanwala

Moving towards sustainability is also a social change

Krishnanand Tripathi, Textrade International Ltd

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Milva Morani,

Milva Morani

Brighi Technologies began in 1970 with trading and repairing sewing...

Herbert Guebeli,

Herbert Guebeli

Switzerland-based Sedo Engineering develops technologies for the denim...

Lucilla Booyzen,

Lucilla Booyzen

South African Fashion Week (SAFW) is a B2B marketing platform for fashion, ...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Pranav Mishra, Huemn

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

August 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search