West Java Government offers investment package of Rp113 trillion or US$8.07 billion to United Arab Emirates (UAE) investors - Photo: Special.

JAKARTA (TheInsiderStories)West Java regional government offers an investment package of Rp113 trillion (S$8.07 billion) to the United Arab Emirates (UAE) investors. The package is the development of the new city in the north of West Java or Cirebon-Patimban-Kertajati (Rebana), the governor Ridwan Kamil told media on Tuesday (12/10).

Kamil said that the UAE investment will give a meaningful impact on industry sustainability in West Java. It is because the future of West Java will be in the Rebana zone, centered in Majalengka.

Furthermore, Kamil claimed Rebana has the strength that different from other economies and industrial zones. The zone is nearby Patimban Port and West Java International Airport, Kertajati, also designed with a futuristic style.

On the other hand, Kamil said, they also proposed the Cileunyi-Garut-Tasik (Cigatas) toll road project of Rp50 trillion and other projects to UAE investors. Therefore, he visited Minister of Maritime and Investment Luhut Binsar Panjaitan to complete the preparation before proposing to the investors.

Moreover, there will be a project in energy and mining which be offered to UAE. Deputy Minister of SOE Budi Gunadi Sadikin said that there are three projects that ready to sign by the UAE investors, included PT Pertamina’s projects, Cirata’s solar power plant, and PT Indonesia Asahan Aluminium (Inalum) projects.

Director of Energy and Mineral Resources Ministry FX Sutijastoto said that Cirata’s plant has a capacity of 145 megawatts. The project handled by PT Perusahaan Listrik Negara (PLN) is estimated to work on in 2020.

UAE company, Masdar previously reported has a special right to work on a floating PV power plant in Cirata, West Java. PLN and Masdar will finance 70 percent of the project and the rest will be funded by a loan. PT Pembangkitan Jawa Bali (PJB) will own 51 percent of the plant share and Masdar holds the rest.

On the other hand, Pandjaitan said they will bring the investment package included solar power plant and Rebana development to UAE in Dec 15, 2019. The investment is a follow-up step from meeting between President Joko Widodo and Crown Prince Abu Dhabi Sheikh Mohamed Bin Zayen Al Nahyan recently.

Pandjaitan mentioned several investments to be signed which are farm field of 100 ha in Central Kalimantan, purchasing of Indonesia’s tank landing craft and the development of Masjid Raya Solo.

Besides, UAE will also sign the Sovereign Wealth Fund (SWF) which have been discussed with Abu Dhabi Investment Authority (ADIA). SWF will be built through two schemes, by ADIA investment only or the pooling of several countries investment, including UAE. With this investment tool, the foreign investment entering Indonesia is estimated to be $5-$10 billion. It will be used to finance infrastructure projects and others.

US$1=Rp14,000

Written by Staff Editor, Email: theinsiderstories@gmail.com