Jakarta, July 29 -- Indonesia has recorded a US$2.3 billion investment in a coal-to-methanol downstream project, advancing its strategy to reduce methanol imports and increase value-added processing of domestic coal resources.

Director of Mineral and Coal Downstreaming at the Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM) Rizwan Aryadi Ramadhan announced the investment during the signing of the Front-End Engineering Design (FEED) Contract and Engineering, Procurement, Construction, and Commissioning (EPCC) Framework Agreement in Jakarta on Wednesday.

"We also extend our deepest appreciation for the US$2.3 billion investment, which will be realized through this project," Rizwan said.

He expressed hope that...