BUMN Ministry succeeds in winning investment commitments worth US$13.5 billion
Jumat, 12 Oktober 2018 13:16 WIB - 12 Views
Reporter: Antara
A number of Indonesian officials posed a picture during the Infrastructure Investment Forum held as part of the annual meetings of the International Monetary Fund and the World Bank in Nusa Dua Bali, Oct 8-14, 2018. ANTARA FOTO/ICom/AM IMF-WBG/Jefri Tarigan/kye
Nusa Dua, Bali (ANTARA News) - The State Enterprises (BUMN) Ministry has succeeded in winning a commitment of foreign companies to invest US$13.5 billion in projects offered by the Ministry in the country, a Ministry official has said.
It could be more as the figure was based only on agreements reached at the Infrastructure Investment Forum held as part of events of the annual meeting of the International Monetary Fund and the World Bank now underway here, deputy for Infrastructure and Business expansion of the BUMN Ministry Aloysius Kiik Ro said here on Friday.
Aloysius said part of the agreements constitutes a conclusion of negotiations already in process over the past several years but negotiation on the occasion of the IMF-WB meeting gave the investors confidence to sign their investment commitment.
In addition to the agreement in the Infrastructure Investment Forum, a number of deals had also been signed as a result of the exhibition of "Pavilion Indonesia" held on the sideline of the IMF-WB annual meeting . The exhibition has recorded transactions worth Rp55 million per day on the products of micro and small and medium enterprises, Aloysius said.
"The largest investment pledges was received by PT Pertamina valued at US$6.5 billion from Taiwanese oil and gas company , CPC Corporation," he said.
Pertamina and CPC will cooperate to build a large factory to produce petrochemical basic materials from crude oil, he said, adding the project would save the country from having to import petrochemical basic materials worth US$2.4 billion a year.
"It will cover half of the domestic requirement until now is still imported. In addition the country will gain from the opening of new jobs," he said.
Other state companies winning commitment from foreign companies are Aneka Tambang (Antam) and Inalum with investment commitment from China`s Aluminium Corporation of China Limited (Chalco) to build a factory in Mempawah, West Kalimantan valued at US$850 million .
"Antam, Inalum and Chalco are to build a factory to process bauxite into alumina with a capacity of 1 million tons per year. So far the country has been entirely dependent on import for alumina. Therefore, the construction of the factory would save the country US$650 million in imports per year," he said.
The BUMN Ministry has offered a number of projects to foreign investors taking advantage of the annual meeting of IMF-WB.
Reporting by Edy M Yakub
Editing by A Saragih
Editor: Fardah Assegaf
COPYRIGHT © ANTARA 2018
IMF-WB - Indonesia Pavilion offers $42.2 billion investment opportunities
Jumat, 12 Oktober 2018 18:36 WIB - 4 Views
Reporter: Antara
Some delegates visit Indonesia Pavilion held in the main area of International Monetary Fund- World Bank Group annual meetings 2018 in Nusa Dua, Bali, on Thursday (Oct 11, 2018). The expo displays Indonesian achievements in the economic, industrial, tourism and infrastructure sectors (ANTARA FOTO/ICom/Am IMF-WBG/Zabur Karuru/kye)
Jakarta, (ANTARA News) - Indonesia Pavilion offers US$42.2 billion investment opportunities to investors taking part in the International Monetary Fund-World Bank Group annual meetings in Nusa Dua, Bali, on Oct 8-14, the State Enterprises Ministry said.
The investment opportunities come from 80 ongoing projects which are projected to cost US$86.1 billion, Deputy for Restructuring and Business Development at the State Enterprises Ministry Aloysius K. Ro said in a written statement released on Friday.
Infrastructure is one of the sectors that offers investment opportunities, he said.
Data from the ministry show investment opportunities in the 30 ongoing projects in the construction and infrastructure sector will reach US$16.2 billion, while investment opportunities in the manufacturing sector will reach US$600 million.
He said the government is focusing on five sectors in developing infrastructure in the country. They are electrification, road connectivity, sea connectivity, airport connectivity and digital broadband connectivity.
"We will ensure that basic infrastructure projects including toll roads, seaports, airports and telecommunication will be realized consistently. We will always encourage the improvement of infrastructures," he said.
The investment is needed to achieve the electrification ratio of 99.9 percent, build 1,794 km toll roads, increase the cargo capacity of seaports by 34.9 million tons and raise the capacity of airports to serve 235 million passengers at the end of 2019.
To ensure that the projects will run smoothly, Aloysius said the ministry has committed itself to encourage state-owned enterprises to increase their funding capacity through the money market and partnership with the private sector.
Through the strategic partnership between state-owned enterprises and the private sector there will be expertise sharing to build infrastructures according to global standards, he said.
Reporting by Mentari Dwi Gayati
Editing by Suharto, Yoseph Haryadi
Editor: Suharto
COPYRIGHT © ANTARA 2018