US company pours 7 billion USD into Indonesia

Air Products & Chemicals - a multinational industrial gas and chemicals manufacturer headquartered in the US, has carried out the first phase of its investment in projects worth 7 billion USD in Indonesia over the past two years.

Monday, May 16, 2022 15:09

Jakarta (VNA) - AirProducts & Chemicals - a multinational industrial gas and chemicalsmanufacturer headquartered in the US, has carriedout the first phase of its investment in projects worth 7 billion USD in Indonesia over the past twoyears.

According to BahilLahadalia, Minister of Investment and head of the Investment Coordinating Boardof Indonesia (BKPM), this figure accounts for nearly half of the 15 billion USDinvestment commitment of the company in Indonesia.

The company has pouredmoney in dimethyl ether and methanol production projects in the Balongandistrict of West Java province.

Minister Bahil announced the above information after a meeting between PresidentJoko Widodo and Seifi Ghasemi, President and Chief Executive Officer of Air Products, on May 13 in WashingtonD.C.

According to Bahil, the sides discussed the development of an industry upstream to downstream in thepetrochemical sector.

He said at the meeting, President Jokowi emphasised thenecessity of promptly executing Air Products' investment plan in Indonesia. ThePresident also welcomed the company's signing of a memorandum of understanding(MoU) with the Indonesian government in Dubai in November 2021./

VNA

#Air Products & Chemicals #Indonesia #Joko Widodo #Indonesian government #dimethyl ether #methanol #US investment in Indonesia #Vietnamplus #Vietnam News Agency

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