World's Largest Glass Company Invests US$ 11,6 Billion in Indonesia

China – The Indonesian Minister of Investment/Head of BKPM Bahlil Lahadalia said that Indonesia on Friday signed a Memorandum of Understanding (MoU) and cooperation agreement with Xinyi Glass in building a downstream ecosystem for the glass and solar panel industries. 

"We have signed an MoU, as well as a cooperation agreement to build a downstream ecosystem in Rempang, Batam Region," Minister said in a statement about the event held at Shangri-La Hotel, Chengdu, People's Republic of China (PRC), on Friday. 

Minister Lahadalia explained that the cooperation agreement with Xinyi Glass, which is the largest glass company in the world, has an investment value of US$11.6 billion. 

"Through this cooperation, Indonesia will be building Xinyi Glass glass investment which is the largest outside China,"

Then, the Minister revealed that the investment and construction of the industrial estate will be able to absorb a lot of labor in Indonesia. 

"This investment will use at least 35 thousand human resources because this is a downstream of quartz and silica sand, one of which we will do in Rempang," Minister Lahadalia explained. 

Furthermore, President Joko Widodo (Jokowi) also witnessed the signing of this cooperation and appreciated the investment commitment given to Indonesia.

"I appreciate Xinyi's investment commitment in supporting the downstream solar glass panel industry in Indonesia," the President said.

Also attending the meeting were Minister of Education and Culture Muhadjir Effendy, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, Minister of Foreign Affairs Retno Marsudi, Minister of Investment/Head of BKPM Bahlil Lahadalia, and Indonesian Ambassador to China Djauhari Oratmangun.