Luhut Brings Good News, He Has Successfully Brought In The Investment Of The Australia Asia PowerLink Project Worth IDR 36.7 Trillion

Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan. (Photo: Instagram @luhut,pandjaitan)

JAKARTA - Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan has succeeded in bringing an Australian power company, Sun Cable, to invest USD 2.85 billion or approximately IDR 36.7 trillion in the country.

Later, the company will pull the power cable to Singapore via the Indonesian sea. The project is called Australia-Asia PowerLink.

"Sun Cable's decision to invest more than USD 2 billion in Indonesia proves that Indonesia is a trusted partner and a strategic investment location for the international community," he said at a virtual Australia-Asia PowerLink Investment Announcement press conference, September 23.

In addition to investment, said Luhut, Sun Cable will also transfer knowledge in the field of renewable energy to Indonesia. The project initiated by Sun Cable is also carried out in order to reduce carbon emissions in the Asian region.

"Sun Cable's commitment to knowledge transfer to support the development of renewable energy with the Bogor Agricultural Institute and the November 10 Institute of Technology as well as scholarships will be able to encourage innovation in the field of renewable energy in the future," he said.

On the same occasion, Sun Cable CEO David Griffin detailed a total investment of 2.58 billion dollars into Indonesia, including direct investment of USD 530 million to USD 1 billion. Then USD 1.58 billion was given for operational costs during the project.

"During the project installation, coupled with an investment of USD 1.58 billion for operational costs over the life of the project," said Griffin.

In addition, Griffin also emphasized that in investing in underwater power cables, Sun Cable has complied with the flow as stipulated in the Ministerial Decree No. 14 of 2021 concerning Pipelines and/or Submarine Cables.

Griffin said Sun Cable hopes to become Indonesia's partner in the long term. Including continuing his involvement in positive things with the government and provinces in the country.

"Sun Cable hopes to become a long-term partner in Indonesia, and make a major contribution to the economy. We thank Minister Luhut, Coordinating Ministry for Maritime Affairs and Fisheries (KKP), Marine and Coastal Guard Unit of the Republic of Indonesia (Hubla), Naval Hydrographic and Oceanographic Center (Pushidrosal) and other agencies in Indonesia for their support for the AAPowerLink project," he explained.