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Home >> Business
UPDATED: 15:37, May 02, 2007
S. Korean firms to invest 3 bln USD in Indonesian energy sector
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A number of major companies from South Korea have expressed interest in energy investment worth 3.3 billion U.S. dollars in Indonesia, local press said Wednesday.

The investment will go to various projects, including power plants, oil exploration and liquefied natural gas (LNG) terminal, reported leading economic daily Bisnis Indonesia, quoting a government official as saying.

Energy and Mineral resources Minister Purnomo Yusgiantoro said South Korea was very interested in helping Indonesia build the first nuclear power plant with a capacity of 1,000 megawatts.

"Their biggest interest is to build the nuclear power plant with an investment of 1.5 billion dollars," he said, adding that Korea Hydro and Nuclear Power Company (KHNP) has agreed to conduct a feasibility study for the power plant.

State-run oil and gas firm Pertamina has reached agreement with South Korea National Companies on joint oil and gas exploration and production, while South Korea Gas will help build an LNG terminal, he said.

Korea Western Power and local coal mining firm PT Tambang Batu Bara Bukit Asam plans to build a 400 MW gas-fired power plant.

There were seven energy projects to be jointly run by companies from the two countries, he said.

Source: Xinhua


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