Business News

Investment US$ 5 Billion For Methanol Plant
During a working visit to Tokyo, the Minister of Industry, Mr. Agus Gumiwang Kartasasmita, accompanied by the Indonesian-Japanese Ambassador, H.E. Mr. Heri Akhmadi, met with the chemical industry company Sojitz Corporation to discuss the development of the methanol industry in Indonesia.

"During the meeting, Sojitz expressed his interest in developing the methanol and ammonia industry in the Bintuni Bay Industrial Area (total 2.000 Ha areas), which will absorb an investment of around US $ 5 billion," said the Minister of Industry.

Sojitz Corporation's business in Indonesia includes the company Kaltim Methanol Industri (KMI) in Bontang, East Kalimantan, which is the only methanol producer in Indonesia. The company has a production capacity of 660,000 metric tons per year.

Methanol is needed as raw material, including in the biodiesel, textile, plastics, synthetic resins, pharmaceuticals, insecticides, plywood industries, antifreeze and inhibitor in oil and gas activities.