A group of Japanese tycoons met Industry Minister M.S. Hidayat Monday to reaffirm their commitment to invest here, with two already planning to help construct two power plants worth about US$1.6 billion.
It confirmed a recent statement by the Japan Bank for International Cooperation (JBIC) chief representative in Indonesia Takanori Satake, who said that JBIC expected to wrap up $1.6 billion in loan agreements later this year to finance the Paiton 3 power expansion project and the Cirebon power plant, as reported by Reuters last week.
The Paiton 3 expansion project, controlled by Mitsui and Tokyo Electric Power Company, is expected to start generating 815 MW through its coal-fired power plant in early 2012.
Meanwhile, the Cirebon 660-MW plant is expected to commence operations in 2011.
In addition to explaining their new investment plans, the delegation also congratulated Hidayat as a new Cabinet member, said Kansai Economic Federation (Kankeiren business delegation) chairman Hiroshi Shimozuma.
"Our relationship with the Indonesian Chambers of Commerce and Industry (Kadin) is very close," he told a conference after the meeting.
"We are very happy that our friend Pak Hidayat, who's also from the private sector, has become a minister."
Hidayat is also Kadin chairman.
During the meeting, Hidayat said he discussed with the delegation the Indonesian government's main objectives in the next five years, with its priorities including to strengthen the food and beverage industry, the agricultural processing industry, the electronic industry, the textile industry and infrastructure, including development of power plants.
He said the delegation also mentioned the electricity shortages that had affected many of Japanese investors already established here.
"I told them I was very sorry. Such complaints also came from Indonesian businesses," said Hidayat.
"I gave them my promise that part of the *first* 10,000 megawatt *crash program* will start in the first half of 2010 to tackle the power deficit."
Launched in 2006, the government's first 10,000 MW crash program aimed to help meet increasing electricity needs across the nation.
Last week, the UK Minister for Trade, Investment and Small Business Lord Davies of Abersoch also said during his visit to Indonesia that a number of British companies were interested in investing in the renewable energy and electricity sectors.
Energy and Mineral Resources Ministry's director general for electricity and use of energy J. Purwono previously said that the British firm International Power Plc. also wanted to become the independent power producer designated to run two 1,000-MW projects in Central Java.(*)
It confirmed a recent statement by the Japan Bank for International Cooperation (JBIC) chief representative in Indonesia Takanori Satake, who said that JBIC expected to wrap up $1.6 billion in loan agreements later this year to finance the Paiton 3 power expansion project and the Cirebon power plant, as reported by Reuters last week.
The Paiton 3 expansion project, controlled by Mitsui and Tokyo Electric Power Company, is expected to start generating 815 MW through its coal-fired power plant in early 2012.
Meanwhile, the Cirebon 660-MW plant is expected to commence operations in 2011.
In addition to explaining their new investment plans, the delegation also congratulated Hidayat as a new Cabinet member, said Kansai Economic Federation (Kankeiren business delegation) chairman Hiroshi Shimozuma.
"Our relationship with the Indonesian Chambers of Commerce and Industry (Kadin) is very close," he told a conference after the meeting.
"We are very happy that our friend Pak Hidayat, who's also from the private sector, has become a minister."
Hidayat is also Kadin chairman.
During the meeting, Hidayat said he discussed with the delegation the Indonesian government's main objectives in the next five years, with its priorities including to strengthen the food and beverage industry, the agricultural processing industry, the electronic industry, the textile industry and infrastructure, including development of power plants.
He said the delegation also mentioned the electricity shortages that had affected many of Japanese investors already established here.
"I told them I was very sorry. Such complaints also came from Indonesian businesses," said Hidayat.
"I gave them my promise that part of the *first* 10,000 megawatt *crash program* will start in the first half of 2010 to tackle the power deficit."
Launched in 2006, the government's first 10,000 MW crash program aimed to help meet increasing electricity needs across the nation.
Last week, the UK Minister for Trade, Investment and Small Business Lord Davies of Abersoch also said during his visit to Indonesia that a number of British companies were interested in investing in the renewable energy and electricity sectors.
Energy and Mineral Resources Ministry's director general for electricity and use of energy J. Purwono previously said that the British firm International Power Plc. also wanted to become the independent power producer designated to run two 1,000-MW projects in Central Java.(*)
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