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Jakarta Post

Govt hypes signings of $13.5b deals

  • Stefanno Reinard Sulaiman and Ni Komang Erviani

    The Jakarta Post

Jakarta   /   Fri, October 12 2018   /  02:34 am

The government showed off the signing of 19 business contracts worth about US$13.5 billion on the sidelines of the 2018 Annual Meetings of the International Monetary Fund and the World Bank Group in Nusa Dua, Bali, on Thursday.The contracts were signed by 14 state-owned companies (SOEs), including state oil and gas company Pertamina, state mining firm PT Aneka Tambang (Antam), state mining holding PT Indonesia Asahan Aluminium (Inalum) and construction company PT Wijaya Karya.“We are taking advantage of the IMF-WB event to show investment opportunities in infrastructure,” SOEs Minister Rini Soemarno said in her opening speech.However, six out the 19 partnership agreements are non-binding heads of agreement (HoA).One of the business deals is a joint venture agreement (JVA) signed by Antam and parent company Inalum with Chinese alumina giant Aluminum Corporation of China Limited (Chalc...