Luhut Offers Investment to Japan in Hydropower Plant

1066489_720 Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan when visiting the Polda Metro Jaya on Monday, November 15, 2021. Photo by: Tempo/Adam Prireza

Source: TEMPO.CO
Date: January 12, 2022

TEMPO.CO, Jakarta - Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan offered investment opportunities to Japan to build hydroelectric power plants in a green industrial area in North Kalimantan.

The offer was made during his meeting with the Japanese Minister of Economy, Trade, and Industry Hagiuda Koichi.

"Last December, President Jokowi inaugurated the groundbreaking of a 30-hectare green industrial park," said Luhut in a written statement, Tuesday, January 11.

The green industrial area, he added, has the potential to generate up to 11,000 megawatts of electricity. Apart from investing in the energy sector, Indonesia and Japan have agreed to expand ties in the fisheries, environment, and petrochemical industries.

Luhut also explained that the development in Indonesia, especially the downstream industry, would depend on investment that puts forward the concept of sustainability. On the other hand, the industry was encouraged to reduce dependence on raw commodities in order to increase added value.

Luhut suggested that the two countries plan regular technical discussions so that they could intensively discuss points of cooperation. Minister Koichi, meanwhile, said Japan was also interested in further cooperating with Indonesia.

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