Investment

Indonesia Receives Investment of 13.5 Billion US Dollars

Fourteen state-owned enterprises (SOEs) signed investment agreements with a number of international corporations for infrastructure projects in Indonesia worth US$13.5 billion, on Thursday (11/10/2018).

The signing ceremony was held on the sidelines of the 2018 International Monetary Fund-World Bank (IMF-WB) Annual Meetings in Nusa Dua, Bali on Thursday.

“Today, we’ve witnessed the signing ceremony for investment and financing agreements between 14 SOEs and investors and financial institutions for 19 transactions worth $13.5 billion,” said SOEs Minister Rini Soemarno in her speech during the signing ceremony as quoted by kompas.com.

She explained the investments agreed in the cooperation were in the form of strategic partnerships, project financing and alternative financing through stock markets.

The agreements cover the oil and gas sector, downstream mining businesses, tourism, airport construction, electricity, defense, toll road construction and the manufacturing industry, the minister said.

Among the projects are a strategic partnership between PT GMF AeroAsia and AFI KLM E&M of France, a partnership between PT GMF AeroAsia and PT China Communications Construction Indonesia, and tourism destination development financing between the Indonesia Tourism Development Corporation (ITDC) and the Asian Infrastructure Investment Bank (AIIB).

Other projects include a strategic partnership in the airport industry between state-owned airport operator PT Angkasa Pura II and PT Danareksa Sekuritas and a strategic partnership between PT Inalum and PT Aneka Tambang with Aluminum Corporation of China Limited (Chalco).

Attending the ceremony were Coordinating Economic Minister Darmin Nasution, Public Works and Housing Minister Basuki Hadimuljono and Bank Indonesia Governor Perry Warjiyo, among others. (bbn)

The Jakarta Post

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