Indonesia Launches Two Aluminium Plants in Weda Bay

President Prabowo Subianto launched the construction of two aluminium plants in the Weda Bay industrial estate in North Maluku on Thursday (October 8).

The two plants are part of an industrial project with an estimated investment of USD10 billion.

Citing AI Circle, Investment Minister Rosan Roeslani said four projects launched in the area were valued at around USD 3 billion.

Meanwhile, investment in six other projects is estimated at USD 7 billion.

According to the Investment Ministry, companies involved in the projects include PT Weda Bay Aluminium, PT Guang Ching Nickel Cobalt, and PT Flatsolar Energy Indonesia.

In addition to the two aluminium plants, the projects include production facilities for nickel-based battery raw materials, battery components, and photovoltaic glass for solar panels.

On the occasion, Prabowo also inaugurated the first export shipment of electric vehicle batteries produced by REPT Battero.

Prabowo stressed that the government would welcome investments entering Indonesia, regardless of their country of origin.

Prabowo also said Indonesia was committed to maintaining the best possible partnerships with investors. He viewed supporting partners as an honour for the Indonesian nation.

The Weda Bay industrial estate is partly controlled by Tsingshan Holding Group, a Chinese steel company.

Metal Processing Investments

Indonesia has attracted substantial investment in metal processing and smelting, particularly from Chinese companies seeking to tap the country's nickel reserves.

However, several business players have expressed concerns over changes in government policy.

Chinese companies operating in Indonesia say restrictions on mining production quotas, tax increases, and new pricing formulas are raising costs and threatening their investments.

Amid these concerns, Prabowo reiterated the government's commitment to protecting investments from all countries.

He said Indonesia would maintain the best possible partnerships with investors and regarded supporting partners as an honour for the nation.

Source: https://www.idnfinancials.com/id/news/70106/indonesia-luncurkan-2-pabrik-aluminium-di-weda-bay

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