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Russia to invest up to 6 bln dollars in Indonesian economy in 2014

February 25, 2014, 23:53 UTC+3 JAKARTA (Indonesia)
Russia and Indonesia are implementing two major joint investment projects: the construction of a special-purpose road in Eastern Kalimantan province and an aluminous plant
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© ITAR-TASS/Maxim Nikitin

JAKARTA (Indonesia), February 25, /ITAR-TASS/. Russia has invested six billion dollars in the construction of a railroad in Kalimantan province and an aluminous plant, Hatta Rajasa, Indonesia’s Coordinating Minister of Economy, said on Tuesday.

Russia and Indonesia are implementing two major joint investment projects: the construction of a special-purpose road in Eastern Kalimantan province and an aluminous plant. According to him, the railroad can be used for transporting coal and other cargoes. The amount of investments in each project is valued at 2-3 billion dollars.

According to the Indonesian minister, Indonesia expects the Russian side to invest about 5-6 billion dollars in the Indonesian economy in 2014.

Rajasa said that both projects had great social significance for Indonesia which willingly issues licenses and releases land for the projects.

In turn, Russian Vice-Premier Dmitry Rogozin said that Russian business had learnt to work in Indonesia and now felt comfortable.

“The only thing I would like to call your attention to is that Russian companies are involved in socially significant projects. We would like to have certain preferences considering that the projects are socially significant and realizable,” Rogozin stressed.

The sides exchanged the texts of Memorandums on mutual understanding and energy cooperation between the Russian and Indonesian Energy Ministries after a meeting of the Russian-Indonesian inter-governmental commission.

The sides also signed a Memorandum of understanding with Indonesian partner companies on the RusAl and KAMAZ projects.

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