Pertamina to invest US$2.5 billion in Aceh
Monday, April 10 2000 - 04:00 AM WIB
The state oil and gas firm Pertamina plans to invest some US$2.5 billion in Aceh province in a bid to help develop the local economy, according to the Analisa daily in Medan.
The paper quoted head of Aceh House of Representatives Tgk. Muhammad Yus as saying that the legislative body had managed to persuade Pertamina to invest its money in Aceh.
He said that the investment plan was agreed in Jakarta last week between Pertamina president Baihaki Hakim and the visiting local House team.
There were no details of the investment plans.
Aceh is an oil and gas rich province. But Pertamina and the central government in Jakarta has long been criticized of neglecting the local economy by transferring most of the oil and gas revenue to Jakarta. (*)