Indonesia’s Minister of Investment and Downstream Industry, Rosan P. Roeslani, announced a new initiative to transform seaweed into bio-aviation fuel (bioavtur) as part of the country’s energy downstreaming strategy. The project, discussed with the Ministry of Maritime Affairs and Fisheries (KKP), aims to leverage Indonesia’s leading position as the world’s top producer of tropical seaweed. Initial research has been conducted, with plans for further discussions to explore the potential of seaweed cultivation, which already thrives in regions like Bali and East Nusa Tenggara. However, the initiative will require formalizing seaweed production at a corporate scale to maximize its value.
PT Mayora Indah exported $1 million worth of snacks to 15 countries, including Palestine, on November 5, 2024. Despite the conflict, demand for products like wafers and biscuits has grown. Mayora exports to 103 countries and aims for a 15% increase in export value this year.
Indonesia’s Minister of Communications, Meutya V. Hafid, announced a plan to expand 4G infrastructure in the 3T (frontier, outermost, and least-developed) regions. Although 97% of areas have internet coverage, much remains at the slow 2G level. The first phase will focus on 65 villages, with specific locations yet to be revealed. The Ministry’s 100-day plan includes consolidating the organization, improving digital infrastructure, enhancing the digital ecosystem, and developing human resources. Key projects include expanding 4G access and establishing the National Data Center, aiming to boost connectivity and support economic growth in underserved areas.
PLN Indonesia Power inaugurated a solar panel factory in Kendal, Central Java, with 1 GWp capacity. Using advanced TOPCon technology, the facility aims to boost local solar energy production, reduce imports, and support Indonesia’s renewable energy and economic growth goals.
The Corruption Eradication Commission (KPK) seized Rp2.4 billion (US$152,445) in cash linked to a fictitious investment scheme involving PT Taspen, a state-owned pension insurance company. The investigation, conducted on October 30-31, 2024, targeted brokers and investment managers who allegedly violated regulations. Searches were carried out at the homes of a PT IIM director and a former PT Taspen director, resulting in the collection of documents and electronic evidence.
Coal and electric vehicle company PT TBS Energi Utama Tbk (TOBA) – which 10% of shares are owned by Coordinating Minister for Maritime Affairs and Investment Luhut Panjaitan – has allocated between US$ 50 million and US$ 60 million of capital expenditure (Capex) for the year 2023. The Capex would be allocated for the development of the new EVs and the renewable energy with its subsidiaries.
PT Bayan Resources Tbk. (BYAN) has absorbed capital expenditure (Capex) of US$ 166.2 million on the construction of a coal transport road, overland conveyor and a barge loading facility in Muara Pahu, East Kalimantan. The company seeks to increase its 2023 coal production targets to over 45 million tons, an increase compared to 2022 which was below 40 million tons.
Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia announced that investment realization from January to September 2022 has reached IDR 892.4 trillion – or 74.4% of the target – both foreign and direct investments. He was upbeat that his ministry could reach a targeted investment of IDR 1,200 trillion for the year 2022.
PT Galva Technologies Tbk (GLVA) has planned to allocate IDR 80 billion of Capex for 2023 to strengthen the company’s recurring income through managed services business model.
