Oil and Gas - Indonesia plans major investments in national EVs and biojet fuel

Oil and Gas - Indonesia plans major investments in national EVs and biojet fuel The Indonesian government is preparing large‑scale investments in the energy sector, including the construction of refineries for national electric vehicle (EV) production and for bio‑aviation fuel (bioavtur). The plan was conveyed by President Prabowo Subianto during the inauguration of the Bakrie Group’s electric vehicle factory, PT VKTR Sakti Industries, in Magelang on Thursday (9/4). In his speech, Prabowo welcomed the Bakrie Group’s initiative to support domestic electric car production. “This is extremely important and is indeed part of our plan. I hope that in 2028 we will begin large‑scale production of electric sedans,” Prabowo said. Prabowo also stated that the Indonesian government is currently establishing a company to realise national EV production. In addition to EV manufacturing, Prabowo said the large investment plan also includes the development of processing plants to convert palm oil and used cooking oil into bioavtur for aircraft. “In the near future we will open processing centres, refineries for this. We will invest heavily in that sector,” Prabowo said. Although he did not specify the exact investment value, Prabowo targeted the plan to be realised within the next two to three years. He said the development of bioavtur refineries and national EV production would help Indonesia end energy imports in the coming years. To support this goal, Prabowo also plans to shut down 13 diesel‑powered electricity plants in Indonesia to save up to 200,000 barrels of diesel fuel per day. (Source : Idn Financial)