Jakarta (VNA) - Air Products & Chemicals - a multinational industrial gas and chemicals manufacturer headquartered in the US, has carried out the first phase of its investment in projects worth 7 billion USD in Indonesia over the past two years. 

According to Bahil Lahadalia, Minister of Investment and head of the Investment Coordinating Board of Indonesia (BKPM), this figure accounts for nearly half of the 15 billion USD investment commitment of the company in Indonesia. 

The company has poured money in dimethyl ether and methanol production projects in the Balongan district of West Java province.

Minister Bahil announced the above information after a meeting between President Joko Widodo and Seifi Ghasemi, President and Chief Executive Officer of Air Products, on May 13 in Washington D.C.

According to Bahil, the sides discussed the development of an industry upstream to downstream in the petrochemical sector.

He said at the meeting, President Jokowi emphasised the necessity of promptly executing Air Products' investment plan in Indonesia. The President also welcomed the company's signing of a memorandum of understanding (MoU) with the Indonesian government in Dubai in November 2021./