JAKARTA - The Minister of Investment and Industrialization/CEO of BPI Danantara Rosan Roeslani revealed that PT Freeport Indonesia (PTFI) will increase its investment value to reach 20 billion US dollars. This follows the extension of the special mining business permit (IUPK) of PTFI from 2041 to 2061.
"So that Freeport can increase its investment... in the next 20 years the value is 20 billion dollars," said Rosan in a written statement, Friday, February 20.
The extension of the IUPK was marked by the signing of a memorandum of understanding between Freeport-McMoran (FCX) and the Indonesian government in the United States.
"Yesterday, an MoU was also signed between Freeport and the Indonesian government," said Rosan.
According to Rosan, the MoU opens up room for long-term investment increases. He also claimed that this step had an impact on state revenue.
"This... has a positive impact... both in terms of tax revenue and others," said Rosan, referring to the follow-up as "definitive agreement."
Meanwhile, the Indonesian Ambassador to the US, Indroyono Soesilo, emphasized that the next job was not a ceremony, but an execution.
"The task of the Indonesian representative in the United States is to implement the agreement that was signed this morning," said Indroyono.
He placed the Indonesian Embassy in Washington as a coordination center.
"The Indonesian Embassy in Washington is the center," he said.
For implementation related to the mining sector, Indroyono said that efforts would be carried out through a network of representatives, including consular channels.
"For the development of mining, it will be supported by our RI consul general in Los Angeles," he said.
At this point, he continued, the investment figure of 20 billion US dollars and the horizon of 2061 sounds okay, even if it is agreed to the market. However, the public is waiting for the size that can be tested when entering the definitive agreement stage, namely the target for downstream, the schedule for realization, and the projection of state revenue that can be monitored.
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