President Jokowi, Air Products & Chemicals Follow Up Major Investment Deal

President Joko Widodo, or Jokowi, in his visit to the United States on Thursday, met with Air Products & Chemicals CEO Seifi Ghasemi which is a follow up to the signing of an investment MoU in coal gasification and its derivatives in Indonesia worth $15 billion, or roughly Rp219.5 trillion. The meeting took place at the Ritz Carlton Hotel in Washington D.C.

“I conducted the groundbreaking of the coal to dimethyl ether (DME) industrial downstream at Bukit Asam. I am hoping that the investment plan can be soon followed up,” said the President on May 12, Antaranews reported.

Investment Minister Bahlil Lahadia said that Air Products had realized the first phase of investment of $7 billion in the form of a methanol DME project located at Balongan.

Air Products also plans to build a methanol industry in Cepu. The company will realize investments for other hydrogen projects by utilizing existing dams in Indonesia.