Indonesia expects to end import of petrochemical products from 2027
Indonesia’s Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan has expressed his hope that the largest economy of Southeast Asia will not import petrochemical products from 2027 thanks to petrochemical industry development in North Kalimantan’s green industrial area.
Indonesia’s Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan speaks at 2023 Mandiri Investment Forum (Photo: antaranews)
Jakarta (VNA) - Indonesia’s Coordinating Minister for MaritimeAffairs and Investment Luhut Binsar Pandjaitan has expressed his hope that thelargest economy of Southeast Asia will not import petrochemical products from2027 thanks to petrochemical industry development in North Kalimantan’s greenindustrial area.
Speaking at the “2023 Mandiri Investment Forum” on February1, he said that the country plans to build the largest petrochemical industryat the Tanah Kuning Kalimantan Industrial Park Indonesia (KIPI) in NorthKalimantan province, which will be turned into the world’s biggest integratedindustrial area.
The total investment potential of the industrial area hasreached 132 billion USD. The figure includes the investment potential fordeveloping hydropower plants and solar panels with a total capacity of 10,000 MW each as well as a gas facility with a total capacity of 2.9trillion cubic feet (TCF).
In addition, bauxite smelters will be constructed massivelyat the KIPI in 2023–2024, following the decision of the Indonesian governmentto ban bauxite ore exports.
On December 21, 2022, President Widodo announced thatIndonesia will stop exporting bauxite ore starting June 2023 to boost thedomestic bauxite processing and refining industry./.
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Indonesia’s Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan speaks at 2023 Mandiri Investment Forum (Photo: antaranews) 
