Industries

President Joko ‘Jokowi’ Widodo has met leaders of BASF AG, Eramet, and VW Power Co Ltd related to their respective investment plans in Indonesia during his visit to Germany for the opening of the world’s largest industrial expo Hannover Messe 2023, wherein Indonesia is a partner country.

Since its establishment in the 90s, PT Chandra Asri Petrochemical Tbk (Chandra Asri), Indonesia’s largest integrated petrochemical company, has supplied ethylene to the country’s largest chlor-alkali plant PT Asahimas Chemical and second largest PT Sulfindo Adiusaha. This time, however, Chandra Asri will build its own to anticipate growing demand from metal, including nickel, processing in Indonesia. 

More nickel smelters will enter commercial production stage this year, while multibillion dollar nickel projects will likely be completed next year and 2025 to boost Indonesia’s profile in the global EV industry. Initial public offering (IPO) of Harita Nickel and Merdeka Battery Materials might be followed by other players. 

Indonesia welcomed 701,931 foreign visits in February, a substantial increase from last year. In the past few months, foreign visits have been stabilized above 700,000, which is still way below pre-pandemic level, but clearly suggesting a strong recovery. Bear in mind that in the second half of last year, average monthly visits was around 500,000.

Nickel industry continues to attract new players. India’ s stainless steel manufacturer, Jindal Stainless Ltd, is the last name to join the industry. Jindal recently entered into a collaboration agreement with New Yaking Pte Ltd. for the investment, development, construction, and operation of a nickel pig iron (NPI) smelter facility in Halmahera.

Shares of Lygend Resources and Technology Co Ltd gained 2.31% to HK$12.42 on the Hong Kong Stock Exchange (HKSE) today as investors responded positively the company’s earlier announcement about first production of nickel sulfate for EV battery in Obi Island, North Maluku province, Indonesia.

Media recently reported that the residents in North Sulawesi province are demanding payment of compensation for the road widening project in the Likupang special economic zone (SEZ). They protested because the North Sulawesi National Land Agency (BPN) has not realized the payment since last year. From the total 117 plots of land affected by the SEZ project in Tatelu Rondor Village, only 107 plots of land which its data have been recorded in the BPN, while 17 plots of land have been paid. 

The Jakarta Post published an article titled ‘US Firm’s exit deals blow to RI coal plans’, concluding that the withdrawal of Air Products Inc from all downstream coal projects in Indonesia could spell the end of the government’s plan to develop the sector. Really?