Indonesian President Prabowo Subianto inaugurated downstreaming projects worth US$10.2 billion (IDR 180 trillion) at the Indonesia Weda Bay Industrial Park (IWIP) in Central Halmahera Regency, North Maluku. The inauguration included the launch of 11 downstreaming projects and the initial export of electric vehicle (EV) batteries. The 11 projects comprise the commercialization of four industrial projects and the groundbreaking of seven new industrial projects, all located within the IWIP area.
“Today, we will launch the initial export of electric vehicle batteries. We will also launch 11 downstreaming projects, consisting of the commercialization of four industrial projects and the commencement of construction of seven new industrial projects in the Weda Bay Industrial Park area,” Indonesian President Prabowo said during the inauguration on Thursday (October 8, 2026).
Prabowo congratulated all parties and stakeholders, both domestic and international, for placing their trust in Indonesia and providing opportunities to work together to build shared prosperity.
“Ladies and gentlemen, what we have achieved over the past few years is truly something to be proud of. Therefore, I hereby reaffirm the Indonesian government’s commitment to respecting and safeguarding all investments made in Indonesia, regardless of their origin,” Prabowo stated.
Minister of Investment and Head of the Investment Coordinating Board (BKPM) Rosan P. Roeslani explained that the inaugurated projects are strategic developments within the IWIP area and form part of Indonesia’s broader investment initiatives.
“The total investment will reach US$10.2 billion, or approximately IDR 180 trillion. Of those 10 projects, Mr. President, four have already been completed and have recently held commercial ceremonies. Exports worth US$3.4 billion have also been completed. These downstreaming projects cover various sectors, including nickel-based battery materials, battery production, aluminum electrolytes, and electric heavy equipment,” Rosan explained.
Rosan added that the groundbreaking ceremonies would cover several additional industrial developments, including nickel-based battery materials, EV battery separators, aluminum electrolytes, electric heavy equipment for the mining and industrial sectors, and photovoltaic glass for solar energy applications.
“And this is the first, electric EV batteries, and also aluminum electrolytes, there are two, and also electric-based heavy equipment that will be built for trucks and also mining and also industry, and also photovoltaic glass for industrial solar energy, Mr. President,” Rosan reported.
October 8, 2026, CNBC Indonesia
(https://www.cnbcindonesia.com/news/20261008121708-4-774398/sah-prabowo-resmikan-pembangunan-11-proyek-hilirisasi-rp180-triliun)
(https://www.cnbcindonesia.com/news/20261008132552-4-774404/prabowo-ungkap-investasi-di-kawasan-iwip-tembus-us–20-miliar)