Iran to invest $600m in Indonesian oil, gas projects
Friday, April 28 2006 - 03:36 PM WIB
Iranian President Mahmoud Ahmadinejad will sign US$600 million in investments in Indonesia's gas and oil sector during a state visit next month, a foreign ministry spokesman said Friday as quoted by agency.
"Iran wants to invest US$200 million to fix offshore refinery platforms in Indonesia and also to invest US$400 million in building a gas pipeline from South Sumatra to Batam," Yuri Thamrin said at a press briefing.
He did not provide additional details about the pending investment, which would provide Indonesia's gas and oil sector with a greatly needed cash injection.
Ahmadinejad will be in Indonesia from May 9-13 for the fifth conference of the group of eight predominantly Muslim countries, also known as the D-8.(*)