Indonesia invites foreign investors to develop green industry

Jakarta, Aug 1 (IANS) Indonesia is inviting foreign investors to participate in the development of the green industry, including carbon capture storage (CCS), in North Kalimantan, said Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan.

"We want the CCS industry to grow into a major business in the future. Therefore, I invite foreign investors to engage in Kalimantan," Luhut said during the opening of the 2nd International and Indonesia Carbon Capture and Storage Forum in Jakarta on Wednesday.

The green industrial zone in North Kalimantan is projected to produce 3 million tonnes of electronic alumina and 5 million tonnes of steel, Xinhua news agency reported.

Additionally, 265 GWh of new energy batteries will be produced, as will 1.4 million tonnes of polysilicon.

Luhut predicts that green products from this zone will be visible within seven to eight years. Currently, the government is aiming to improve efficiency and simplify laws to help investors build Indonesia's green industry, including CCS.

Disclaimer: This story has not been edited by the Sakshi Post team and is auto-generated from syndicated feed.