Visiting Turkey, The Minister Of Industry Invites SANKO To Hold Investment In The Mamin And Energy Sector

Minister of Industry Agus Gumiwang Kartasasmita met Honorary President of SANKO Holding Mr. kahriye Konukuglu in Istanbul, Turkey. Photo: Doc. Ministry of Industry

JAKARTA - Minister of Industry (Menperin) Agus Gumiwang Kartasasmita met with industry players in Istanbul, Turkey, on June 4-5, 2024. On that occasion, he brought a mission to increase investment for Indonesia, especially for the manufacturing industry sector.

One of the companies met by the Minister of Industry is SANKO Holding, Turkey's largest manufacturing conglomerate known globally as a textile producer to a renewable energy producer.

"In yesterday's meeting, we encouraged SANKO Holding to expand its investment into the downstream sector as well as energy," said Minister of Industry Agus in an official statement received by VOI, Monday, June 10.

It is known that SANKO Holding employs around 14,000 workers, operates in 11 different sectors and exports its products to more than 100 countries.

The leading sectors of SANKO Holding include the textile, packaging, energy, construction, cement and real estate industries. In the textile sector, SANKO Textile is one of the global leaders in the production of yarn and fabrics.

To SANKO Holding, Minister of Industry Agus encouraged to invest in the downstream sector. One of them is the tuna processing industry and shipyards. Given, SANKO will develop tuna cultivation in Biak, Papua, and build tuna processing vessels.

In addition, the Minister of Industry also invited Sanko Energy, a subsidiary of Sanko Holding to invest in the field of Hydroelectric Power Plants (PLTA) in Indonesia, which currently has a low level of utilization.

"There are about 69 dams in Indonesia that have not been optimally utilized, so that it becomes an opportunity that SANKO Holding can take advantage of to develop its energy line in Indonesia," he said.

Currently, SANKO Energy already has a number of power plants from hydroelectric, wind and geothermal with an installed capacity of 1,000 MW.

Investment opportunities offered by the Minister of Industry also encourage SANKO Holding to participate in renewable energy production, as an effort to realize Net Zero Emission (NZE) in Indonesia by 2060.

"SANKO welcomes the offer and will discuss this further," he added. In addition, SANKO Holding also has a textile and packaging industry whose investment needs to be encouraged in Indonesia.

Turkey's total investment in Indonesia from 2019 to 2023 reached 42.758 million US dollars, which put Turkey in 43rd place among the countries investing in Indonesia. This means that there is still a very big opportunity for Turkish companies to develop their business in Indonesia.