Exxon Mobil to construct a green petchem refinery in Indonesia with $15 B budget
Originally posted on https://jakartaglobe.id/
Exxon Mobil is set to make a significant investment of up to $15 B in Indonesia for a green petrochemical refinery and carbon capture storage facility, as announced by President Joko Widodo. The projects, designed to substantially reduce Indonesia's carbon emissions, were discussed during a meeting between Jokowi and Exxon Mobil's chairman.
Jokowi expressed appreciation for the cooperation and underscored the importance of Exxon's CCS facility, anticipated to be the largest in Southeast Asia, and the advanced nature of the petrochemical complex.
Additionally, Jokowi invited Exxon Mobil to participate in developing Indonesia's renewable energy and green infrastructure, including the ambitious Nusantara capital project.
Indonesia plans to cover 80 percent of the estimated $33 B Nusantara project cost through public-private partnerships, with the remaining 20 percent from the state budget. The United States ranks as the fifth-largest foreign investor in Indonesia, with a total investment of $2.4 B in the first nine months of 2023.