President Jokowi, Air Products & Chemicals Follow Up Major Investment Deal

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Laila Afifa

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  • TEMPO.CO, Jakarta - President Joko Widodo, or Jokowi, in his visit to the United States on Thursday, met with Air Products & Chemicals CEO Seifi Ghasemi which is a follow up to the signing of an investment MoU in coal gasification and its derivatives in Indonesia worth $15 billion, or roughly Rp219.5 trillion. The meeting took place at the Ritz Carlton Hotel in Washington D.C. 

    “I conducted the groundbreaking of the coal to dimethyl ether (DME) industrial downstream at Bukit Asam. I am hoping that the investment plan can be soon followed up,” said the President on May 12, Antaranews reported. 

    Investment Minister Bahlil Lahadia said that Air Products had realized the first phase of investment of $7 billion in the form of a methanol DME project located at Balongan.

    Air Products also plans to build a methanol industry in Cepu. The company will realize investments for other hydrogen projects by utilizing existing dams in Indonesia.

    "Now the task that remains for the Indonesian government is to immediately execute it. Because the money is already there, the project is already there,” Bahlil said. 

    Minister Bahlil said Air Products plan to build the industrial downstream in the petrochemicals department. 

    “I might argue that the meeting today between the President and Seifi shows that investments in Indonesia are not dominated by a certain country and that it is already spread equally,” he said. 

    Air Products & Chemicals is a U.S. gas and chemical processing company that was founded in 1940.

    Read: Ministry Denies Issues Jokowi Not Welcomed in United States

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