Jakarta –
President Joko Widodo (Jokowi) said that Indonesia got a cheap price when they wanted to get shares in PT Freeport Indonesia. At the end of 2018, Indonesia officially became the main shareholder of Freeport with a total share of 51%
In front of company heads at the Kompas 100 CEO Forum, Jokowi explained that the market value of Freeport when it was acquired by Indonesia was only US$3.9 billion. So now the value has jumped to US$ 34 billion.
“What we like to buy is when the price is cheap. As far as I remember, how much was it? US$ 3.9 billion at that time. What is the market value right now, Mr. Tony? It continues to rise, try US$34 billion,” said Jokowi at an event broadcast live from IKN, East Kalimantan, on Friday (11/10 /2024).
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Not only is the price much cheaper than it is now, Jokowi also said that the debt that was used as capital to buy Freeport has now been paid off. This means that it can now be said that the construction of Freeport produced a return on investment.
For information, in 2018, Inalum, as BUMN responsible for doing business with Freeport, issued global bonds worth US$ 4 billion, these bonds are what Jokowi called debt paid.
“The one we bought 3 years ago is now paid off. This year, Mr. Tony, it is paid off, right? Paid off,” explained Jokowi.
The former Governor of DKI Jakarta emphasized the Freeport construction strategy which was done without using APBN funds. According to him, it is a shame that such creative methods could not be implemented in the past.
“And we didn’t buy it with our money. That’s what we’re smart about, we’re very smart, of course, but why wasn’t it done 50 years ago,” said Jokowi.
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2024-10-11 12:00:00
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