Indian firms may invest $8 bln in fertilisers: Indonesia
Published on Thu, Dec 16, 2010 at 17:16 | Source : Reuters
Updated at Thu, Dec 16, 2010 at 17:28
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Indian firms may invest $8 bln in fertilisers: Indonesia
Indian firms are likely to invest USD 6- USD 8 billion in fertiliser production in Indonesia, Indonesia's investment chief Gita Wirjawan told Reuters on Wednesday.
Indian firms are likely to invest USD 6-USD 8 billion in fertiliser production in Indonesia, Indonesia's investment chief Gita Wirjawan told Reuters on Wednesday.
Wirjawan did not give the names of firms or the likely timing. Local media quoted him as saying he expected Indian direct investment to hit USD 5 billion in the next three to five years, with investments in coal mining and the power sector.
"On my visit to India, when meeting with several businessmen and government officials, they were interested to boost the production capacity of fertiliser in Indonesia," Wirjawan told Reuters.
Foreign direct investment in Southeast Asia's biggest economy has picked up this year, but many investors are still put off by rampant graft, red tape and problems of land acquisition.
