Market Chatter: Toyota, Indonesia in Talks on Joint Investment in Bioethanol Production

MT Newswires Live04-20 17:28

Toyota Motor's (TM) Toyota Tsusho and Indonesian state energy firm Pertamina's renewable energy unit are in talks over a potential $200 million to $300 million joint investment for a bioethanol production facility in Indonesia's Lampung province, Reuters reported Monday, citing the country's Deputy Investment Minister Todotua Pasaribu and Toyota executives.

Construction on the plant with capacity of 60,000 kilolitres of bioethanol annually could start in H2 this year, with production expected in 2028, if an agreement is reached, the news agency reported, citing Pasaribu.

Japan's Research Association of Biomass Innovation for Next Generation Automobile Fuels is also involved in the discussions, the deputy investment minister was quoted as saying by Reuters.

Toyota, Pertamina, and Research Association didn't immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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