Indonesia has signed a $15-billion long-term investment agreement with US-based gas processing and chemical company Air Products to develop the domestic coal gasification industry, the country’s Investment Coordinating Board (BKPM) said on Friday. The deal covers investments in converting low-value coal into high-value-added chemical products such as methanol.
BKPM chief Bahlil Lahadalia said Air Products would work with several Indonesian companies, including coal miner Bukit Asam and Indika Energy. Lahadalia noted that the investment would start in 2022. The agreement reflects Indonesia’s push to shift away from coal-fired power generation and use the commodity for other purposes.
One aspect of the project will convert coal into blue ammonia through a process that emits low CO2. Coal gasification will also help Indonesia reduce fuel imports and improve its trade balance. Minister of State-Owned Enterprises Erick Thohir said coal gasification could support 10,000 jobs and save foreign exchange reserves of up to IDR9.7 trillion ($677 million) annually.
Tags: AlwaysFree,Asia Pacific,Coal,English,Indonesia,Methanol,SEA
Published on November 10, 2021 11:53 AM (GMT+8)Last Updated on November 10, 2021 11:53 AM (GMT+8)
