- Development & Aid
- Economy & Trade
- Human Rights
- Global Governance
- Civil Society
Tuesday, August 20, 2019
WASHINGTON, D.C., Oct 27 2015 (IPS) - Following a state visit to the US, Indonesian President Joko Widodo finalized 12 investment deals estimated at over 20 billion dollars.
The investments, with major US corporations, are expected to spur power generation, enhance linkages in the gas sector and further drive developments in Indonesia’s renewable energy infrastructure, according to a press release.
These transactions include: Pertamina and Corpus Christie Liquefaction, a subsidiary of Cheniere Energy: Shale gas sales and purchase agreements valued at 13 billion dollars; Coca-Cola: A five-year 500 million dollar investment, announced earlier this year, that will enable the company to strengthen its infrastructure and create additional jobs in Indonesia; General Electric (GE): An investment of up to 1.0 billion dollars over a period of five years in the power, oil and gas, and healthcare sectors to support Indonesia’s accelerated economic growth.
GE also announced various agreements relating to four infrastructure projects. This includes three projects related to the power sector that may contribute an estimated 3 gigawatts (GW) in capacity in Indonesia. It also includes a further letter-of-intent for a multi-year maintenance service agreement for 50 diesel-electric locomotives in Indonesia.
Additionally, there was an agreement with Caterpillar and Fluidic, Inc for the launch of the “500 Island Project,” which will provide reliable and renewable based electricity to 500 remote villages and islands, serving more than 1.5 million people.
“Indonesia has one of the largest economies in Asia and a rapidly-growing middle class. These new partnerships will help Indonesia and the U.S. realize the full potential of our economic relationship as Indonesia diversifies and grows its economy,” said President Widodo.
“I look forward to working together with public and private sector leaders in the U.S. to achieve shared prosperity. Now is the time to invest: Indonesia is open for business.”
Indonesia is the largest economy in Southeast Asia. With more than 60 million Indonesians projected to join the middle class in the next ten years, Indonesia is a growing market for U.S. companies.
The two Presidents also concluded the following agreements/arrangements:
• Memorandum of Understanding on Maritime Cooperation between the Government of The Republic of Indonesia and the Government of the United States of America
• Joint Statement on Comprehensive Defense Cooperation
• Memorandum of Understanding Between the Government of the Republic of Indonesia and the Government of the United States of America Concerning Cooperation on Energy
And a Memorandum of Understanding between the Federal Aviation Administration Department of Transportation of the United States of America and the Directorate General of Civil Aviation (DGCA) of the Ministry of Transportation of the Republic of Indonesia on the Promotion of Sustainable Aviation Alternative Fuels and Renewable Energy.
IPS is an international communication institution with a global news agency at its core,
raising the voices of the South
and civil society on issues of development, globalisation, human rights and the environment
Copyright © 2019 IPS-Inter Press Service. All rights reserved. - Terms & Conditions
You have the Power to Make a Difference
Would you consider a $20.00 contribution today that will help to keep the IPS news wire active? Your contribution will make a huge difference.