President Jokowi Meets European Company Directors

President Jokowi meets European company directors at Kastens Hotel Luisenhof in Hannover, Germany, Sunday (04/16) (Photo by: BPMI of Presidential Secretariat)

President Joko “Jokowi” Widodo Sunday (04/16) held a business meeting with directors of Germany’s chemical company BASF (Baden Aniline and Soda Factory), French global mining and metallurgy group Eramet, and automotive manufacturer Volkswagen’s battery company PowerCo at Kastens Hotel Luisenhof in Hannover, Germany.

On that occasion, the representatives of the BASF told President Jokowi that the company will invest around USD2.6 billion in North Maluku province of Indonesia in order to boost electric vehicles (EV) battery ecosystem.

For the record, the project will be carried out by the BASF in collaboration with the Eramet by implementing business practices that consider the ESG (Environment, Social, and Government) framework and using green energy.

“The project will commence in the end of 2023,” Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia said.

According to Bahlil,  PowerCo will also support Indonesia in developing EV battery ecosystem by collaborating with several national companies.

Furthermore, Bahlil went on to say that it is a momentum to show the world that Indonesia is open for investment, while underscoring that mining management in Indonesia pays close attention to the international standards.  (BPMI of Presidential Secretariat/UN) (AP/MUR)