DIGIVESTASI - The Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, stated that downstream processing has increased state revenue to US$ 40 billion, approximately Rp 651 trillion (at an exchange rate of Rp 16,292) in 2023. He is optimistic that this industry will contribute US$ 70 billion, or around Rp 1,140 trillion, to state revenue by 2028. This increase, according to him, represents a significant leap compared to previous earnings of only US$ 1.5 billion to US$ 2 billion.

"Without this, our economy would have been shaky, and by 2028, I believe we will be approaching US$ 70 billion," he said during a meeting with the House of Representatives' Budget Committee in Central Jakarta on Wednesday (5/6/2024).

Luhut emphasized that the push for downstream processing continues, one of which is through the Petrochemical project in North Kalimantan. Investment in this area is believed to increase the gross domestic product (GDP) by 4%.

"This is very good. If you look at the end, recycling can reach 97% to 98%, so the nickel there can be re-extracted," he added.

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