Jokowi Meets the CEO Air Products, Follow up Investment Planning

VIVA – President Joko Widodo meets the CEO of Air Products & Chemicals, Seifi Ghasemi to discuss the investment. The meeting took place at the Ritz Carlton Hotel in Washington D.C on Thursday, May 13, 2022.

During the meeting, President Jokowi discussed the importance of following up on the US company, which previously signed a memorandum of understanding or MoU on coal gasification investment and its reduction in Indonesia worth US$15 billion of around Rp219.5 trillion.

It is based on an official statement that was received in Jakarta, Thursday, May 13, 2022.

"I’m welcoming the signing of the MoU in Dibua in November 2021. As an implementation of the plan on January 24, I conducted a groundbreaking for the coal to DME downstream industry in Bukit Asam. I hope that the investment plan can be followed up immediately," said President Jokowi.

The Minister of Investment or Head of the Investment Coordinating Board Bahlil Lahadalia who accompanied the President at the meeting said that Air Products had realized the first phase of their investment of US$ 7 billion (approximately Rp102.4 trillion).

"It's the DME Project, methanol in Balongan, and we also want to build methanol in Cepu, the rest we will make hydrogen which will be built in Indonesia by utilizing state-owned dams," said Bahlil.

Bahlil also stated that based on the results of discussions between President Jokowi and the CEO of Air Products, there is a plan for industrial development from upstream to downstream in the petrochemical sector.

"Now, for the government’s task to execute it immediately because the money is there, the project is there. I think today's meeting with Mr. President and The CEO shows that investment in Indonesia isn’t only controlled by a certain country, but is distributed too," he said.

Not only Bahlil who accompanied President Joko Widodo in the meeting, but also there is a Minister of State Secretary Pratikno.

Air Products & Chemicals is a gas and chemical processing company from the US that was founded in 1940 and on November 4, 2021 has signed an MoU with BUMN and national companies for four projects, namely:

1. Coal project into Dimethyl Ether (DME) with Indika Energy Tbk Company

2. Natural gas to blue ammonia project with Butonas Petrochemical Indonesia Company

3. Coal project to become DME with Batulicin Enam Sembilan Company

4. Coal gasification project for methanol production with Bukti Asam Company

One of the realizations of this investment started with the procession of laying the first stone for the downstream coal project to become a DME in Muara Enim, South Sumatra, on January 24, 2022.