Export Ban Triples Nickel Investment in Indonesia’s Morowali
- Investment in the industrial park seen to hit $18 billion
- More nickel smelter projects being completed this year
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Indonesia’s nickel investment is set to triple in one of the country’s biggest industrial parks, following a 2019 ban on raw ore exports that President Joko Widodo says will help the economy produce higher-value goods.
Spending on projects in Morowali Industrial Park in Sulawesi will reach $18 billion in 2022, compared with $6.7 billion in 2019, when the ban was imposed, according to Luhut Panjaitan, the coordinating minister for investment & maritime affairs.