Consortium of South Korean firms eyeing $400m investment into Indonesia

Consortium of South Korean firms eyeing $400m investment into Indonesia Mount Batok, East Java, Indonesia (source: flickr/ taveshala, creative commons)
Alexander Richter 21 Mar 2016

A consortium of firms is looking at investments of up to $400m into the development of geothermal projects of up to 190 MW in East Java and East Nusa Teggara, Indonesia.

Reported by CNN in Indonesia, a consortium of companies from South Korea have expressed an interest in investments of up to $400 million into geothermal development in Indonesia.

The firms are looking particularly into development of up to 160 MW in East Java and 30 MW in East Nusa Teggara. In a statement, Head of the Investment Coordinating Board (BKPM) Franky Sibarani said: The investors are very serious about the power projects are delivered they are communicating with the various parties that are expected to support the process of construction of existing projects.”

Investment Promotion Representative BKPM (IIPC) of Indonesia in Seoul, South Korea, Imam Soejoedi stated that IIPC Seoul will continue to oversee the investment interest conveyed to the realization, even the construction process. “the consortium is also very optimistic with the changes and simplification of regulations in various fields in Indonesia, especially for electricity,” he said. There is the hope that the interest will translate into real investment in the very near future.

Source: CNN Indonesia