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View all search resultsUS firms break ground on $500m Batam semiconductor project
The investment follows a $31.6 billion joint venture agreement signed at the US Chamber of Commerce in Washington, D.C., on Feb. 18, with President Prabowo Subianto witnessing the signing.
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A cloudy sky covers Rempang Island's Sebulang village in Batam, Riau Islands, on Sept. 18, 2023. (AFP/Bay Ismoyo)
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wo United States companies, Tynergy Technology Group and Essence Global, have officially begun a US$500 million semiconductor investment at the Wiraraja I Industrial Estate in Kabil, Batam.
The investment follows a $31.6 billion joint venture agreement signed at the US Chamber of Commerce in Washington, D.C., on Feb. 18, with President Prabowo Subianto witnessing the signing.
Akhmad Makruf Maulana, president director of Wiraraja Green Renewable Energy & Smart Eco-Industrial Park (Geseip), said the initial phase of investment would kick off with a groundbreaking ceremony on Wednesday.
The project will occupy a 3-hectare site and is projected to create 1,000 new jobs.
“This represents the initial phase of the investment from the United States, a commitment that has been in the works for some time. We are beginning this within an existing industrial estate, specifically Wiraraja I in Kabil,” Makruf, who also the chairman of the Indonesian Industrial Estate Association (HKI), said on Tuesday, as quoted by Bisnis.com.
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Besides advancing the semiconductor industry, the partnership also includes the downstream processing of silica sand, the establishment of an AI-powered smart factory and the assembly of sodium-ion batteries.
