President Joko "Jokowi" Widodo and Lulu Group CEO Yusuff Ali MA inspect local products sold during the opening of Lulu Hypermarket in Jakarta on May 31, 2016. TEMPO/Chitra
TEMPO.CO, Jakarta-Sudirman Said, Energy and Mineral Resources Minister, said that the amount of actualized investment by Middle East countries in Indonesia has reached US$12.2 billion. Four countries that contributed are The United Arab Emirates, Qatar, Saudi Arabia, and Iran.
"Projects have been signed," said Sudirman, who is the liaison officer for Middle East investments, said in Jakarta Monday, June 27, 2016.
The investments include a US$1-billion infrastructure partnership between PT Sarana Multi Infrastruktur and Qatar Investment Authority, a US$350 million gas power plant project in North Sumatera by PLN and Qatar's Nebras, and a 80,000-ton LPG contract between National Iranian Oil Company (NIOC) and Pertamina worth US$60 million.
Iran is also committed to supply up to 150,000 bpd of crude, an investment worth US$5 billion. Iran's crude supply will start after the Situbondo refinery in East Java is constructed.
On the retail sector, UAE's retail giant Lulu Hypermarket plans to build 10 shops in Indonesia. The project is estimated to worth US$300 million.
