Indonesia has enormous potential of approximately 12 million hectares of seaweed cultivation area, of which only 0.8% is currently utilized with a production of around 9 million tons in 2021. For this reason, President Joko ‘Jokowi’ Widodo recently instructed the Ministry of Maritime Affairs and Fisheries Wahyu Trenggono to carry out the development of downstream industries of seaweed products by establishing pilot projects in Buleleng (Bali), Wakatobi (Southeast Sulawesi), Southeast Maluku (Maluku), Rote Ndao (East Nusa Tenggara), and West Nusa Tenggara province. 

Sales of electric motorcycle in Indonesia might have been slower than expected, but series of policy initiatives gradually boost outlook of the industry. Some companies have geared up investments in developing assembling facilities to tap the growing market. 

Luhut Binsar Pandjaitan, coordinating minister for maritime and investment affairs, looked upbeat with progress of the Bandung-Jakarta high-speed train (HST). He was on board the train during a trial run, which for the first time reached 350 KM per hour speed. Looked satisfied, Luhut then talked about extension of the route from Bandung to Surabaya.

Unlike its nickel-rich neighbor in the north, Maluku province in the south only contributed 0.04% of Indonesia’s total export in the first five months of 2023. The province, however, has enormous untapped resources, especially fisheries and oil & gas. Maluku province is home to the long-delayed US$20 billion Abadi LNG project.

North Maluku was nowhere in the export map of Indonesia few years ago. In 2020, however, export value from the province reached US$1.04 billion or 0.64% of the country’s total export. Last year, export value from North Maluku skyrocketed to US$8.19 billion or 2.8% of Indonesia’s total export.

PT ST Telemedia Global Data Centers Indonesia (PT STT GDC Indonesia) on Wednesday (June 21) launched its first data center, STT Jakarta 1, in Bekasi, West Java, in collaboration with global investment company Temasek and local Indonesian conglomerate Triputra Group.

President Jokowi ‘Jokowi’ Widodo inspected two copper smelter projects on Tuesday (June 20). The new copper smelter built by PT Freeport Indonesia (PTFI) in Gresik, East Java with estimated investment of US$3 billion is getting closer to commercial operation. 

President Joko “Jokowi” Widodo has on Tuesday (June 20) kicked off construction of the first copper foil project in Indonesia with estimated investment of US$860 million in Gresik, East Java province from PT Hailiang Nova Material Indonesia, a subsidiary of Zhejiang Hailiang Co Ltd.

Shares of the troubled state EPC firm and toll developer PT Waskita Karya (WSKT) Tbk ended at Rp202 on Friday (June 16) to make a market capitalization of Rp5.8 trillion, not even half of the company’s equity (Rp13.85 trillion as of March 31, 2023). Like peers, investors are still worried about going concern of WSKT related to poor balance sheet and series of corruption cases.