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US looking to invest US$1 bln in Indonesian power projects

Jakarta (ANTARA News) – The recent visit of President Joko Widodo to Washington has succeeded in attracting a U.S. company, which is looking to invest US$1 billion in Indonesian electricity projects, the Capital Investment Coordinating Board (BKPM) said.

BKPMs Deputy for Control and Implementation of Investment, Azhar Lubis said in a press statement released on Thursday that the investment will be made in the next five years.

“However, not all of the US$1 billion will be invested in the electricity sector, but also in the health, oil and gas sectors,” Azhar said, adding that the investor is one of the pioneers in the electricity generating business of the United States.

Besides in the electricity sector, BKPM Chief Franky Sibarani also held a meeting with one of the US companies operating in the pharmaceutical field.

The company expressed an interest investing in research and development facilities.

“We appreciated this and identified it as an opportunity that should be monitored by the Europe-American marketing officers and Indonesian Investment Promotion Center (IIPC) in New York,” Franky said.

Franky said research and facility development would need a huge amount of capital so that there were several matters regarding their investment that need attention.

“For the pharmaceutical industry, we suggest that it should have research and development facilities if they want to enter the Indonesian market,” he noted.

The BKMP also recorded the United States’ interest in investing in the creative economy worth US$40 million.

Source : www.antaranews.com , Thursday, 29 Oktober 2015