Minister of State-Owned Enterprises (BUMN) Erick Thohir revealed Freeport McMoran's big plan to build a smelter in Fakfak, West Papua. This plan comes after the world's largest gold producer completes its smelting project in Gresik, East Java.

Erick has not confirmed in detail when the start of the smelter project in Fakfak, West Papua. However, he confirmed that Freeport McMoran will increase its investment in Indonesia through the construction of a new smelter in Fakfak.

"In December, the first phase of Freeport's smelter in Gresik, East Java, will be inaugurated, and by the end of next year, the second phase will be completed. Freeport is committed to constructing another smelter in Fakfak, Papua," Erick stated through his Instagram account on Tuesday (14/11/2023).

According to him, the development of projects in the energy and mining sectors aligns with President Joko Widodo's (Jokowi) downstreaming program, as it adds value to Indonesia.

Not only that, but the investment from the U.S.-based company is also believed to generate new employment opportunities, ultimately driving local economic growth.

"This is in line with the downstreaming program to increase added value for Indonesia. We continue to encourage investment in Indonesia to create job opportunities in the homeland," he explained.

The man who also serves as the Acting Coordinating Minister for Maritime Affairs and Investment notes that the handles and investment relationship between Indonesia and the U.S. are currently on the rise. Indonesia has recorded a trade surplus with the U.S. amounting to USD 16 billion.

In fact, US investment in Indonesia is the fourth largest which has never happened before.

"Indeed, trade relations between Indonesia and the US continue to increase now, especially since our financial surplus with America is almost USD 16 billion," Erick explained. 

"And that's why the President is encouraging investment in Indonesia from the United States, including PT Freeport, because our state-owned company already controls 51 percent," he added.

Image source: MNC Media

Source: www.idxchannel.com/Erick Sebut Freeport Mcmoran Bakal Bangun Smelter Di Fakfak Papua Barat