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Met With SANKO Holding From Turkey, The Minister Of Industry Opens Up Investment Opportunities In The Food And Energy Industry

During a meeting with industry players in Istanbul, Turkey on June 4-5, 2024, Minister of Industry Agus Gumiwang Kartasasmita brought a mission to increase investments from Turkey in Indonesia, especially in the manufacturing sector. One of the companies he met with was SANKO Holding, the largest manufacturing conglomerate in Turkey known globally for producing textiles to renewable energy.

SANKO Holding employs around 14,000 workers, operates in 11 different sectors, and exports its products to more than 100 countries. Its flagship sectors include textiles, packaging, energy, construction, cement and building materials, as well as real estate. In the textile sector, SANKO Textile is a global leader in yarn and fabric production.

"In yesterday's meeting, we encouraged SANKO Holding to expand its investments downstream, as well as in the energy sector," said the Minister in Jakarta on Sunday (9/6).

To SANKO Holding, the Minister urged them to invest in downstream sectors, such as tuna processing industry and shipyards. This is because SANKO will develop tuna aquaculture in Biak, Papua and build tuna processing vessels. Tuna is a plentiful commodity around Biak, Papua, making it still very potential to establish a tuna processing industry in the region.

The Minister also invited Sanko Enerji, a subsidiary of Sanko Holding, to invest in Hydropower Plants (PLTA) in Indonesia, which currently have low utilization rates. "There are around 69 dams in Indonesia that are not optimally utilized, providing an opportunity for SANKO Holding to develop its energy line in Indonesia," explained the Minister.

SANKO Energy currently has several power plants, including hydroelectric, wind, and geothermal, with a total installed capacity of 1,000 MW. The investment opportunities offered by the Minister of Industry also encourage SANKO Holding to participate in renewable energy production, as part of the efforts to achieve Net Zero Emission in Indonesia by 2060.

"SANKO welcomes this offer and will discuss it further," said the Minister of Industry. In addition, SANKO Holding also has textile and packaging industries that need investment support in Indonesia.

Turkey's total investment in Indonesia from 2019 to 2023 reached USD 42.758 million, placing Turkey at 43rd among the countries investing in Indonesia. This means that there are still significant opportunities for Turkish companies to expand their businesses in Indonesia.