According to the Coordinating Minister of Maritime Affairs Luhut Binsar Pandjaitan, a Chinese company has shown its interest to invest USD 10 billion into several Indonesian regions.
Furthermore, Luhut said that the Chinese company has several business partners in Indonesia and is prepared to develop industries in areas including Morowali, Central Sulawesi, North Halmahera, and North Maluku. According to Luhut, the investment is not part of the 21st century One Belt One Road (OBOR) Initiative China had initiated.
The company is interested in developing the steel and carbon industries together with its local partners. In addition, the company also expressed its plan to develop lithium batteries that would be used to power electricity-based vehicles in Indonesia.
In addition, Luhut said that the Chinese company is interested in investing in Indonesia because of Indonesia’s tax incentives policy for foreign investments that is valued at USD 2.5 billion.