Indonesia Economy Forum

[Nike]

Petrochemical set to become future downstream industry
19th Oct 2019 13:20

Energy and Mineral Resources Minister Ignasius Jonan at an event of IDX Economic Outlook in Jakarta recently. (ANTARA/Afut Syafril/sh)

Jakarta (ANTARA) - The government has encouraged the petrochemical industry to become a future downstream industry in the oil and gas sector.

Energy and Mineral Resources Minister Ignasius Jonan noted in a statement here on Saturday that with increased competitiveness in the energy sector, adjustment and innovation are vital to boosting business in the oil and gas industry.

"Oil and gas are still important, petrochemical is the future. Several derivative products can be produced from oil," Jonan stated.

Jonan remarked that oil and gas are yet primarily perceived as fuel energy rather than raw material for petrochemical products.

"This culture in the oil and gas business must be adjusted," the minister emphasized.

He stated that dependence on oil and gas derivative products should be viewed as an opportunity for the petrochemical industry. The government has tasked state-run oil firm Pertamina to build refineries to process crude oil into petrochemical products.

Presently, Pertamina only has petrochemical production capacity reaching 700 kilotons per annum. The production capacity is expected to rise with the existence of two new refineries in Tuban and Bontang and four existing refineries in Balikpapan, Cilacap, Balongan, and Dumai that have been revitalized.

Pertamina's petrochemical production capacity is expected to reach 6,600 kilotons per annum after revitalization is completed in 2026. Related news: Foreign investment in petrochemical industry to enter Indonesia
Related news: Indonesia to boost petrochemical development in Bintuni, W Papua

EDITED BY INE

Editor: Suharto

COPYRIGHT © ANTARA 2019

https://m.antaranews.com/en/news/134920/petrochemical-set-to-become-future-downstream-industry

 

[Kansel]

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[Nike]

Indonesian Trade Expo day four buying mission reaches US$3.16 billion
17 minutes ago

A trade agreement between an Indonesian business consortium and Norway company, Sterner AS, was signed at the Indonesian Trade Expo (TEI) 2019 on Oct 16, 2019. (Doc of the Indonesian Embassy in Oslo/Sw/RN)

Jakarta (ANTARA) - The buying mission on the Indonesian Trade Expo (TEI) 2019 Day 4, which counted from October 16 to 19 transactions, recorded that the total value of trade contracts that had been signed had reached around US$3.16 billion.

"On Day 4 of the TEI 2019, eight documents of memorandum of understanding are signed with partners from five countries. So, in total, we have already had 112 agreements with 30 countries," General Director of the National Export Development at the Trade Ministry Dody Edward stated in a statement received in Jakarta, Sunday.

All the MoU documents were signed on the sidelines of the TEI 2019 held at Indonesia Convention Exhibition of Bumi Serpong Damai (ICE BSD), Tangerang, Banten Province.

Five countries who took the agreements on Day 4 were Germany on doll products, Romania on paper products, Jordan on processed foods, Egypt on stationery and processed foods, and China on investment of recycling mill in Medan, the capital city of North Sumatera Province.

The buying mission program was conducted by the Indonesian Trade Ministry in order to boost national export, Edward said.

"We pin our hopes on more countries to sign trade contracts at the TEI 2019 to enable us to reach increased values of transactions," Edward said.
Editor: Rahmad Nasution

COPYRIGHT © ANTARA 2019

https://m.antaranews.com/en/news/13...day-four-buying-mission-reaches-us316-billion

 

[Kansel]

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[Nike]

• NEWS
• BUSINESS

PGN to start LNG processing at Tanjung Perak Port this year

• Norman Harsono
  The Jakarta Post
  

Jakarta / Mon, October 21, 2019 / 04:49 pm

Tied up: Workers stand on the wharf of a liquefied natural gas (LNG) terminal in Benoa Harbor in Denpasar, Bali, on Monday. The first LNG terminal for floating storage units consisting of two vessels is being operated near a diesel and gas-fired plant (PLTDG), which was developed to supply 200 megawatts of electricity to outer islands. (JP/Zul Trio Anggono)
State-owned gas company PGN is set to begin operations at its liquified natural gas (LNG) processing terminal at Tanjung Perak Port in Surabaya, East Java, this year.

The company said in a statement issued on Thursday that the Teluk Lamong terminal would have, in the first phase, a processing capacity of 40 million standard cubic feet per day (mmscfd), most of which would be used to regasify LNG into a suitable fuel for domestic and industrial use.

PGN corporate secretary Rachmat Hutama said the terminal was “very important to meet gas demand in East Java” because it enabled the province to use supplies from West Java and Central Java.

“The LNG terminal is also a measure to anticipate any problems arising with the natural gas supply in East Java,” he said.

The terminal, which is being built in cooperation with state-owned port operator Pelindo III, will have a capacity of 180 mmscfd once PGN completes the third and final phase of development by 2023, by which time the facility will also have a landed gas storage system and gas container refilling station.

The company plans to install a landed gas storage system with a capacity of 50 cubic meters (cbm) that can be expanded to 180 cbm if needed and a gas container filling station to facilitate transporting fuel to eastern Indonesia in the absence of end user gas pipelines.

https://www.thejakartapost.com/news...ocessing-at-tanjung-perak-port-this-year.html

 

[trishna_amṛta]

Sri Mulyani stay in office in the new cabinet

I got to admit I don't like (as in hate) some of her line of thinking & policy but overall she is still the best the nation have for the position.

 

[Bungaterakhir]

Bukaka wins contract to build jet bridges, walkways for Bangkok airport
source : Link

PT Bukaka Teknik Utama, part of the Kalla Group, has won a Rp 100 billion (US$7.5 million) contract to build 33 jet bridges and three moving walkways for Don Mueang International Airport in Bangkok.

The contract was signed by the company’s director of operations and human resources, Saptiastuti Hapsari, in Bangkok on Tuesday, in the presence of Indonesian Ambassador to the Kingdom of Thailand Ahmad Rusdi and the managing director of Indonesian Bankexim, Dikdik Yustandi.

The construction of the 33 jet bridges and three walkways is scheduled to be completed within a year, with the first shipment to be carried out in January.

“The cooperation with the Thai airport authority is expected to be continued in the future and help further increase bilateral cooperation in trade and investment between Indonesia and Thailand,” the company said in a statement.

Meanwhile, the Indonesian ambassador expressed hope that the cooperation between Bukaka and the Thai airport authority would strengthen business relations and cooperation between the two countries.

Bukaka, with almost 41 years of experience in the production of jet bridges and airport walkways, has exported jet bridges to Singapore, Malaysia, Hong Kong, Japan, India, Chile and Bangladesh. (hen)

Tokopedia to Add $12b to Indonesia's Economy in 2019
source : Link

Jakarta. E-commerce giant Tokopedia is on course to nearly triple its contribution to the Indonesian economy this year, creating hundreds of thousands of new jobs, lowering prices and promoting economic equality across the archipelago, according to a recent study.

The study carried out by the University of Indonesia's Institute for Economic and Social Research (LPEM) revealed that Tokopedia will add Rp 170 trillion ($12 billion) to Southeast Asia's largest economy in 2019, compared with last year's Rp 58 trillion.

While most of the impact is felt in the provinces on the country's most populous island, Java, other regions also benefit greatly from Tokopedia's presence. North Sumatra saw its economy expand by an additional Rp 2.79 trillion last year, while East Kalimantan's economy enjoyed Rp 933 billion in additional output.

Tokopedia also created 857,000 new part-time and full-time jobs last year. More than a third of the new sellers, or 309,000, use Tokopedia as their main source of income. LPEM estimates that Tokopedia will create 1.14 million new jobs this year.

"One of our findings is that Tokopedia carries out an inclusiveness function. One example is the large number of housewives who became sellers in Indonesia," LPEM deputy director Kiki Verico, said at a press conference in Jakarta on Thursday.

The LPEM study estimates the total nominal transaction, or gross merchandise value, at Tokopedia, will reach Rp 222 trillion this year, from last year's Rp 73 trillion.

"We must evolve to reach other industries. We aim to work with fishermen and farmers, among others," Wiliam said.

 

[Nike]

Basuki Hadimuljono to likely remain PUPR minister in Jokowi cabinet
22nd Oct 2019 18:16

Hadimuljono gives a press statement after the meeting with Jokowi at the Presidential Palace Complex in Jakarta on Tuesday, October 22, 2019. (ANTARA/Desca Lidya Natalia/Sw)

Jakarta (ANTARA) - Basuki Hadimuljono will likely continue to occupy his earlier position as public working and people housing (PUPR) minister to carry forward the duty of developing Indonesia's infrastructure sectors.

"I and President Jokowi have spoken about the duty of continuing the development of infrastructure that is aligned with his vision for the second-term government to build tourism and industrial connectivity," Hadimuljono remarked after meeting with Jokowi at the Presidential Palace Complex in Jakarta on Tuesday.

He mentioned the industrial areas of Brebes, Magetan, and Ngawi as well as the tourist destination areas of Lake Toba, Mandalika, Labuan Bajo, and Likupang.

Apart from the assignment to reoccupy the position, Hadimuljono also reported to Jokowi on the progress on the contest pertaining to Indonesia's new capital.

Related news: Fresh faces to be part of new cabinet line-up: Jokowi

"He was enquiring about the progress in terms of the new capital concept contest, which I can say is currently in the stage of aanwijzing (assignment and preparation of details) with 762 participants. He was surprised on knowing the number," he stated.

During the meeting, Hadimuljono and President Jokowi also had lunch, with the songs of the president's favorites from Queen and Metallica playing in the background.

Jokowi’s intent to keep Hadimuljono as his minister for infrastructure matters can be linked to the president's statement on December 16, 2017, citing that Hadimuljono is "the father of infrastructure."

It means without Hadimuljono's work in the sector, infrastructure projects would have likely been tough to implement.

"Position is an order from the boss that I will definitely carry on. Praises to the cooperation you all have conducted, and if tomorrow I were to be inaugurated, I wholeheartedly seek God's blessings to keep me on the right path," he stated.

Related news: Old hands still part of new cabinet line-up: Jokowi

Editor: Rahmad Nasution

COPYRIGHT © ANTARA 2019

https://m.antaranews.com/en/news/13...likely-remain-pupr-minister-in-jokowi-cabinet

I love it, Jokowi still chose this guy and his no nonsense approach is bringing immediate results of infrastructure development in Indonesia

Still pity why Jokowi left Susi Pudjiastuti

 

[Kansel]

I love it, Jokowi still chose this guy and his no nonsense approach is bringing immediate results of infrastructure development in Indonesia

Still pity why Jokowi left Susi Pudjiastuti

Yeah he's a funny guy I loved him tho, susi once come to ITS (my University) she told me she want to retire from being a KKP minister she's too tired for this but in the end she say it depends on Jokowi decision

 

[NEKONEKO]

Live now.

 

[trishna_amṛta]

susi once come to ITS (my University) she told me she want to retire from being a KKP minister she's too tired for this but in the end she say it depends on Jokowi decision

IMO Susi playing too much into Greenpeace & foreign NGO narrative (which is NOT for the benefits of our people) to the point its become questionable whether or not some policy is coming from her or being "whispered" by any of those foreign NGO (case example is the use of bottom trawl and the fiasco toward East Java fisherman). From political perspective alone Susi had caused some lose of vote for President Jokowi.

We got another non-competence MenKomInfo . And Nadiem as Education Minister WTF?! Our education system is already bad enough as it is destroying it further will not help the nation as a whole in the long run
And Siti Nurbaya remain in office after all those blazing forest fire & the haze?!

 

[Kansel]

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[trishna_amṛta]

Just found this video, I highly recommended to watch it entirely

 

[Kansel]

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