JAKARTA - President Joko Widodo said he was pleased with the high employment rate at the Batang Integrated Industrial Estate (KIT) electric battery factory, Central Java.
"This is not a small number. In today's world, job creation is the key", Jokowi said in his opening remarks while inaugurating the implementation of the second phase of the integrated electric battery industry in Batang Regency, Central Java, Wednesday, June 8.
Jokowi added, with the absorption of human resources of this magnitude, will certainly bring big benefits to Indonesia.
The reason is, that it will increase state revenue in the tax sector and the trade balance which currently has a 20-month surplus.
"The state will receive additional income in the form of corporate income tax, employee income tax, VAT, non-tax revenues, all of which we will get", said Jokowi.
He said he was happy because the development phase of the integrated electric battery industry had started.
According to him, this investment from LG is the first investment in the world that integrates the production of electric vehicles from upstream to downstream.
"Starting from nickel mining, smelters, precursor factories, cathode factories, then electric batteries, battery packs to electric cars. Moreover, the battery recycling industry from upstream to downstream end to end is all done in this investment", he continued.
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To note, the construction of an electric car battery component factory by LG has an investment value of 9.8 billion US dollars or around Rp. 142 trillion.
"This total investment is not a small amount", concluded Jokowi.
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