Kuwait invests US$100 million in RI oil sector
Monday, February 28 2000 - 04:00 PM WIB
Kuwait has invested a total of US$100 million in Indonesia's oil sector through its state owned oil company KUFPEC, the oil rich country's ambassador to Indonesia, YM Janal M Al Sesafi said in Jakarta last week.
Most of the money was used to finance the construction of an oil refinery plant in Selayar island, South Sulawesi, the ambassador said in a press meeting held in connection with the country's independence day anniversary on Feb. 25.
He said that his government had decided to provide another $50 million to help Indonesia cope with its economic difficulties. But he did not elaborate whether the money was part of the country's financial assistance committed in the recent meeting of the Indonesian donors group, the Consultative Group on Indonesia (CGI). (*)