TEMPO.CO, Jakarta - Coordinating Minister for Maritime Affairs Luhut Pandjaitan said that Saudi Arabia was preparing to heavily invest in Indonesia. The planned investment was discussed during a bilateral meeting of President Joko Widodo or Jokowi and Saudi Arabia King Salman bin Abdulaziz al-Saud during G20 Summit in Osaka, Japan, June 28-29.

“The investment value is around US$7 billion,” said Luhut in his office, Jalan MH Thamrin, Central Jakarta, July 2.

Luhut explained the investment was related to the plan of Saudi Arabian oil and gas company, Aramco, to enter Indonesia. The giant firm planned to invest in Balangan refinery.

At present, he added, Indonesia and Saudi Arabia were appointing an independent consultant to evaluate both countries’ work in the cooperation. After the investment deal between the two countries set, Luhut said that King Salman would visit Indonesia.

“King Salman will come again to Indonesia, pending Aramco to enter Balangan,” he said.

To follow up the bilateral ties, Energy and Mineral Resources Minister Ignasius Jonan, SOE Minister Rini Soemarno, and state oil and gas company Pertamina CEO Nicke Widyawati conducted a meeting with Saudi Arabian Energy Minister Khalid Al-Falih in the sideline of G20 Ministerial Meeting on Energy in Japan, June 16.

According to Luhut Pandjaitan, President Jokowi expected talks on ties with Saudi Arabia to be completed in October 2019 to carry out the cooperation soon.

FRANCISCA CHRISTY ROSANA | BISNIS