Saudi to Invest IDR 84.31 Trillion for Indonesian Petrochemical Industry

Jakarta, MINA – Indonesian Minister of Industry, Airlangga Hartarto said Saudi Arabia would invest $ 6 billion or IDR 84.31 Trillion for petrochemical industry in Indonesia.

This investment has been discussed by Indonesian President, Joko Widodo and the Kingdom of Saudi Arabia, when the president visited Petro Dollar, some time ago.

Saudi Arabia wants to cooperate and make Indonesia a hub for the petrochemical industry in Southeast Asia. President instructed ministries and non-ministerial institutions to immediately conduct studies to facilitate the realization of these investments.

“Ministry of Industry continues to encourage the growth of petrochemical industry in Indonesia to deepen manufacturing structure from upstream to downstream,” Airlangga said.

This petrochemical industry has an important role, because it produces various commodities that can be used as raw materials in the packaging industry, textiles, household appliances, automotive components, and electronic products.

The petrochemical industry also contributes significantly to the national economy. Ministry of Industry noted that in 2018, investment in the chemical and pharmaceutical industry sector reached IDR 39.31 trillion. In addition, the chemical industry and goods from chemicals group carved an export value of US $13.93 billion. (T/Sj/P2)

Mi’raj News Agency+MINA)