“No single project sees any cancellation,” Luhut told reporters in an online briefing on Tuesday, despite adding that some projects were expected to stall between April and June due to the pandemic.

“There are even investors asking about the continuity of their investment,” he said, stating that Australian tycoon Andrew Forrest recently talked to him on the phone about the former’s planned investment in a 10,000 megawatt (MW) hydropower project in North Kalimantan.

The project was worth an estimated US$2 billion per 1,000 MW, according to Office of the Coordinating Maritime Affairs and Investment Minister spokesman Jodi Mahardi.

The Investment Coordinating Board (BKPM) plans to attract Rp 886 trillion ($56.4 billion) worth of investment both from home and overseas this year. The country managed to attract Rp 809 trillion of investments last year, slightly above the target.

“We will see how things unfold,” said Luhut. “If the situation gets better, we will definitely start the investment projects.”

More than 5,100 people had contracted COVID-19 in the country with at least 460 deaths as of Wednesday afternoon, according to official data. The government declared a public health emergency while Jakarta, the nation’s virus epicenter, implemented large-scale social restrictions that suspend school, business and religious activities for 14 days.

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