Indonesian President Joko Widodo (Jokowi) showcased the success of his flagship program, nickel downstreaming, which has seen a significant increase in export value. According to President Jokowi, the export value from nickel downstreaming has skyrocketed from Rp33 trillion to Rp510 trillion.

Key Points

• Our nickel export value has surged to $34 billion, from Rp33 trillion to around Rp510 trillion," President Jokowi said at the PT Indonesia BTR New Energy Material factory opening in Kendal, East Java, on August 7, 2024. Quote by Luhut 
• Jokowi revealed that bauxite production trials will kick off next month in Mempawah, West Kalimantan
• I’m impressed by how quickly this factory was built. We signed the agreement in Beijing 10 months ago, and now it’s complete. This shows our speed, and a fast nation will outpace a slow one. We are now a fast country,Quote by Jokowi

Courtesy Photo: Ant Rozetsky on Unsplash

"As Minister Luhut Binsar Pandjaitan mentioned, our nickel export value has now reached $34 billion, a leap from Rp33 trillion to approximately Rp510 trillion," President Jokowi stated during the inauguration of the lithium battery anode material factory owned by PT Indonesia BTR New Energy Material in Kendal, East Java, on Wednesday, August 7, 2024.

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Jokowi acknowledged that his policy of promoting downstreaming by halting the export of raw nickel ore has received both support and opposition, including a challenge from the European Union (EU) to the World Trade Organization (WTO).

"We lost that case. But I have to say that this country is sovereign, and national interests are paramount for us. We cannot be dictated by anyone," Jokowi explained.

What is most important now, according to Jokowi, is that Indonesia has begun developing a comprehensive ecosystem for electric vehicles (EVs). This progress marks a step toward realizing a robust and integrated EV ecosystem.

"Nickel smelters and their derivatives in Morowali, Weda Bay, and other locations are now operational. In August and September, smelters from Freeport and Amman Mineral in Sumbawa and Gresik will also begin production," Jokowi added.

Courtesy Photo:Dimas Ardian/Bloomberg

Additionally, Jokowi mentioned that bauxite production trials are set to start next month in Mempawah, West Kalimantan.

Read More: Indonesia's Steel Export Ranks 4th Globally, Rapidly Developing Over the Past 5 Years

"If all these projects come to fruition, the ecosystem will be established, allowing us to enter the global supply chain, which will bring substantial added value in terms of recruitment, labor, and economic growth," he said.

Furthermore, President Jokowi inaugurated the lithium battery anode material factory owned by PT Indonesia BTR New Energy Material in Kendal, East Java, on Wednesday, August 7, 2024.

"I greatly appreciate the speed at which this factory was built. We signed the agreement in Beijing just 10 months ago, and now the factory is completed. This is what we call speed, and a fast country will surpass a slow country. We have become a fast country," Jokowi concluded.

Courtesy Source: https://www.cnbcindonesia.com/