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Indonesia and Egypt are exploring significant investment collaboration between the Indonesian Danantara institution and Egypt's Future Wealth Fund. At the forefront of these discussions is a proposal to build a palm oil refinery and processing facility in Egypt to optimize supply chains and add value to regional trade.
Rosan Roeslani, Indonesia's Minister of Investment and Head of the Investment Coordinating Board (BKPM), revealed that the Egyptian government has already prepared land for the project. Speaking at the Presidential Palace complex in Jakarta, Roeslani noted that the collaboration will involve synergy between the sovereign wealth funds of both nations, specifically targeting the crude palm oil (CPO) sector.
The Minister emphasized that Egypt is a major importer of Indonesian palm oil, making the establishment of domestic processing facilities a strategic opportunity. While specific investment figures for the refinery are still under discussion, Roeslani clarified that the previously mentioned $5 billion figure refers to the bilateral trade volume target aimed for 2030, rather than a single investment amount.
This partnership initiative was part of broader economic talks accompanying the meeting between Indonesian President Prabowo Subianto and Egyptian President Abdel Fattah El-Sisi. The project aims to solidify Egypt's role as a regional hub for Indonesian palm oil products, ensuring more efficient distribution across North Africa and the Middle East.
Source: VOI Indonesia