Home ECONOMY This Chinese Company Eyeing on IDR 45T Investment in Bangka Belitung

This Chinese Company Eyeing on IDR 45T Investment in Bangka Belitung

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This Chinese Company Eyeing on IDR 45T Investment in Bangka Belitung

Timerilis.com – Xinyi Solar Energy plans to invest in quartz sand/silica sand in Bangka Belitung worth USD 3 billion or IDR 45 trillion.

The Bangka Belitung area is known to have rich reserves of silica sand. Silica sand is a mining commodity that is being competed by many parties because it’s one of the main raw materials for solar panel components.

The Director General (Dirjen) of Minerals and Coal (Minerba) of the Ministry of Energy and Mineral Resources, Ridwan Djamaludin, said the Xinyi Solar Energy company had conducted a field survey and was rescheduled to hold a meeting with the Ministry of Energy and Mineral Resources on February 6, 2023.

“The investment plan is USD 3 billion, but there has been no written proposal. That was only in our discussions,” Ridwan said during the 2022 Minerba Subsector Performance Achievement event, Jakarta, Tuesday (31/1/2023).

Optimizing the development of silica has the potential to gain success for the government in processing nickel mining commodities.

“This is a big investment. Simply to say, the next ‘nickel’ is silica sand. The direction towards making solar panels can certainly be seen as one of Indonesia’s contributions to the energy transition,” he said.

Xinyi Solar Energy Company is a large producer in the development of renewable energy-supporting devices. It is said to control 40 percent of the global solar panel market.

“They gave an example of being able to build in 18 months in Malaysia. The production has already come out,” said Ridwan.

Studies and research conducted by the Ministry of Energy and Mineral Resources noted that the amount of silica sand resources in Indonesia reached 25 billion tons with a total of 331 million tons of ready-to-produce reserves. (Eva)