Here's The Souvenirs From Menko Marves' Visit To Russia

Illustration (Photo: Doc. Antara)

JAKARTA - Coordinating Minister for Maritime Affairs and Investment (Menko Marves), Luhut Binsar Pandjaitan some time ago visited Russia.

From the visit, Luhut mentioned that many investment commitments were brought home as souvenirs.

Luhut said that one of the investments being discussed with Russia was related to the oil refinery project in Tuban.

The project is in the finalization stage with PT Pertamina (Persero).

“It seems that there are not many issues, because we ask you to provide crude oil there and they are also willing. I think it's good," Luhut told reporters on Monday, August 8.

Not only oil refineries, said Luhut, he also offered Russia to invest in a fertilizer factory in Aceh. This investment cooperation aims to revive the fertilizer factory in Aceh owned by PT Pupuk Iskandar Muda.

"Then Pupuk Aceh, we ask them (Russia) if they can go there, and also they (Russia) are willing to go there. We hope that this Aceh fertilizer (factory) will be able to revive us," he explained.

Luhut also said that Russia is committed to supplying raw materials for fertilizer, namely potash.

This commitment, said Luhut, can reduce the burden of subsidies issued by the government.

"There are many more, I think, I think it will reduce our subsidy, which is a pile of IDR 502 trillion. I think it might be quite less from there," he said.

However, Luhut said his party had not yet specified how much Russia's investment in a fertilizer factory in Aceh would be. This is because the investment plan is still in the negotiation stage.

"We are still recalculating that because I also still want to negotiate the structure. Do we want them to be the majority for 10 years, after that, we will return to the majority, later we will see now I can't just proposed to the President about this," he said.

Luhut also emphasized that he did not have a problem with Russian investment in the midst of the war conflict with Ukraine.

Still, Luhut said, Indonesia's attitude was still against the war.

"It's okay with the investment, we don't agree with the war. But if they want to invest, then we can't accept them investing in Indonesia, that's our national interest," he said.