US firms break ground on $500m Batam semiconductor project
The investment follows a $31.6 billion joint venture agreement signed at the US Chamber of Commerce in Washington, D.C., on Feb. 18, with President Prabowo Subianto witnessing the signing.
United States semiconductor companies Tynergy Technology Group and Essence Global have commenced a $500 million investment project in Batam, Indonesia. This significant commitment follows a $31.6 billion joint venture agreement signed in Washington, D.C., between the US and Indonesian governments on February 18. President Prabowo Subianto attended the signing ceremony.
The initial phase of the project will be marked by a groundbreaking ceremony on Wednesday, with the 3-hectare site located within the Wiraraja I Industrial Estate in Kabil. The initiative is anticipated to generate 1,000 new jobs and aims to advance the semiconductor industry, process silica sand downstream, establish an AI-powered smart factory, and assemble sodium-ion batteries.
Written by urgent.news from The Jakarta Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
