Indonesia Secures US$11.5 Bln Investment from Xinyi Glass

By Editorial Team 31/07/2023
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Summary

Chinese glass producer Xinyi Glass Holdings Ltd invested US$11.5 billion to establish a quartz sand processing plant on Rimpang Island, Batam, Riau Islands.

Investment Minister Bahlil Lahadalia said Xinyi and the Indonesian government have signed a memorandum of understanding on July 28, coinciding with President Joko “Jokowi” Widodo’s visit to China.

According to Bahlil, 95 percent of the factory's production will be utilized for glass manufacturing, with a focus on export markets. “This plant would be the world's second-largest after its counterpart in China and the first one located outside China,” he said.

Xinyi Group’s investment is projected to open around 35,000 jobs. Bahlil expressed that Xinyi would collaborate with national entrepreneurs.

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