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Jakarta Post

Jokowi brings in $20b worth of investments from US visit

  • The Jakarta Post

    The Jakarta Post

Jakarta   /   Tue, October 27, 2015   /  01:43 pm
Jokowi brings in $20b worth of investments from US visit President Joko "Jokowi" Widodo. (Antara/Widodo S. Jusuf) (Antara/Widodo S. Jusuf)

President Joko "Jokowi" Widodo. (Antara/Widodo S. Jusuf)

President Joko "Jokowi" Widodo witnessed investment agreements worth a total of US$20 billion between Indonesian and US companies during his trip to the US on Monday.

Foreign Affairs Minister Retno LP Marsudi said that economic issues were the priorities of the trip.

"There are cooperation agreements worth $20 billion from many companies of varied sectors," she said as quoted by news agency Antara on Tuesday.

Franky Sibarani, the chief of Indonesia's Investment Coordinating Board (BKPM) said that Jokowi's visit to the US finalized the agreements that had been in the works for a long time.

Jokowi visited the US Chamber of Commerce in Washington, DC, on Monday joined by 250 businesspeople and policy makers from both countries. US Chamber of Commerce president Tom Donohue, US-Asean Business Council president Alexander Feldman and president of US-Indonesia Society (USINDO) David Merril welcomed Jokowi and delegation members.

Antara reported that the business agreements signed on Monday totaling $20.25 billion were:

1. Liquid natural gas (LNG) purchase agreement between state oil and gas firm Pertamina and Corpus Christie Liquefaction worth $13 billion for delivering LNG to Lampung Floating Storage Regasification Unit (RSFU) to meet gas needs in the western part of Indonesia and a LNG terminal for eastern Indonesia.

2. Expansion commitment from tobacco giant Phillip Morris for $1.9 billion for factory expansion during 2016 to 2020.

3. Coca Cola to invest $500 million from 2015 to 2018 for plant expansion and production increase

4. Shale gas field Fasken Eagle Ford development plan between Saka Energi and Swift Energy in Webb Country, Texas worth $175 million.

5. State electricity company PLN partnered with General Electric in a $100 million deal for the development of 100 megawatt turbine gas and cydepower units in Gorontalo.

6. State University Udayana in Bali partnered with Skychase energy in a $30 million deal for water conservation and power consumption reduction projects

7. State lender BNI Syariah and Master Card will launch a debit card aimed at haj and umroh (minor haj) pilgrims.

8. PLN and UPC Renewables to work on $850 million deal for 350 megawatt wind-powered power plants from 2015 to 2018

9. Cikarang Listrindo and General Electric partnered in a $600 million deal for power plant developments

10 PT Indonesia Power and General Electric partnered to create a 700 megawatt power plant worth $400 million

11. PLN Batam and General Electric partnered to create a 500 megawatt mobile power plant in Mataram, Bangka, Tanjung Jabung, Pontianak, Lampung and Sei Rotan worth $525 million

12. State railway PT Kereta Api Indonesia and General Electric partnered to create 50 locomotives in eight years worth $60 million.

13. PLN and Caterpillar partnered to create a 2 gigawatt hybrid power plant and PV+ solar project worth $500 million

14. Cargill expansion plan invested $750 million for 2015 to 2019

15. Caterpillar will develop a Remanufacturing Facility for Cylinder Head in Cileungsi, Bogor, West Java, worth $12 million

16. State banknote printing firm Perum Peruri and Crane Currency invested $10 million for a bill security plant in Karawang

17. Pertamina and Bechtel Corporation invested $800 million for refineries construction and development in five years

18. Kilat Wahana Jenggala and Hubell Power Systems invested to expand the existing plant producing polymer transmission for electricity distribution, worth $5 million to $10 million. (rin)(+)

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