RI, South Korea sign $4.14b business deals
Saturday, October 12 2013 - 04:33 AM WIB
Indonesian and South Korean companies signed nine MoUs on business and investment cooperations worth a combined US$4.14 billion during a business forum held Friday in Jakarta in conjunction with the visit of South Korean President Park Geun-hye.
The deals signed covered various areas including investment in the Indonesian electricity and coal railway sectors, and increaseing safety standard in the oil and gas industry.
Following is the list of MoUs signed at the Indonesia-Korea business forum
| No | Title of Agreement/MoU | Benefit be Obtained | Total Investment (in USD) | Companies | Signing Parties | Status |
| 1 | Memorandum of Understanding between the Directorate General of Oil and Gas of Ministry of Energy and Mineral Resources of the Republic of Indonesia and Korea Gas Safety Corporation of the Ministry of Trade, Industry and Energy of the Republic of Korea on Joint Cooperation in Establishment and Standards in relation to the Area of Gas Safety | Indonesia: General Director of Oil and Gas | ||||
| Korea: Korea Gas Safety Corporation | ||||||
| 2 | Memorandum of Understanding between Pertamina (Persero) and Korea National Oil Corps | Enhancing the business cooperation between the Parties such as joint evaluation on promising basins offshore Indonesia. | Indonesia: Pertamina (persero) | Import | ||
| Korea: National Oil Corp | ||||||
| 3 | The Shareholders? Agreement for Kalsel-1 Coal Power Project | Electirc power distribution at South Kalimantan area - 1,401 GWh/year. Job Creation for Indonesian Power Plant Manufacturers | About 450 million | Indonesia: PT Adaro Power (Subsidiary of PT Adaro Energy Tbk.) | Jan 2012 Project awared by PLN. Mar 2013 PPA initial sign Aug 2013 Establishmept of Project Company | |
| Korea: PT EWP Indonesia (Subsidiary of Korea East-West Power Co.,Ltd | ||||||
| 4 | Cooperation on CBM drilling rig operation in Indonesia | Efficient operations and management in CBM block. Quick and economical providing for drilling rigs | 30 million | Indonesia: PT. Sugico | On Going | |
| Korea: Hanjin D&B Co. Ltd | ||||||
| 5 | Extending the cooperation between KOGAS and SUGICO | CBM Explorational Drilling and Geologic Information | 3,7 million | Indonesia: PT Sugico Graha | The Parties had signed a MOU on 20 November 2012. | |
| Korea: KOREA GAS CORPORATION | ||||||
| 6 | Cooperation between Jambi - Province and KOSEP for developing in IPP Project PLTU Tebo 200MWx2 with PPP-Unsolicited | Sales figures 190 mil. USD (year) | 600 million | Indonesia: Jambi Province PT. Tebo Agung International | Indonesia: Mr. Hasan Basri Agus (Governor of Jambi Province), Mr. Sang Kyoung Bae (President of PT. Tebo Agung International) | |
| Korea: Korea South-East Power Co.,Ltd. | Korea: Mr. Heo Yup (President of Korea South-East Power Co., Ltd | |||||
| 7 | Cooperation between PT. Teluk Bintuni and KOSEP for developing Voodpellet Fuel project in west Papua | 7 mil. USD (After-tax profits, Woodpellet Production:0.2 million ton/year) | 55 million (Woodpellet Production: 0.2 million ton/year) | Indonesia: PT. Teluk Bintuni Mina Agro Karya (TBMAK) | Indonesia: Mr. Chandra Lim (Director PT. TBMAK)
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| Korea: Korea South-East Power Co.,Ltd. | Korea: Mr. Heo Yup (President of Korea South- East Power Co., Ltd.) | |||||
| 8 | Development of the Railway from Pulau Baai, Bengkulu to Muaraenim, South sumatra and Port. | - Transport the coal to port | 3 billion | Indonesia: PT. Mandela Resources, Freddy Hartono Direktur PT. Bara Alam Utama, PT. Coalindo Adhi Nusantara, PT. True North Bridge Capital, PT. Tanah Laut, TBK | ||
| - Ship the coal to users | ||||||
| - Open the remote and connect to the global. | ||||||
| - Improve the economy of Bengkulu and South Sumatra significantly. | ||||||
| - Create: some industrial areas; a new mining city: Tourism and Property; Manufactures; Agro Industry; Education; Etc | Korea: Hanwha S&C Co. Ltd | |||||
| - Improve the infrastructure significant from hinterland to the global port. | ||||||
| - Provide the emergency access for crisis or earth quake | ||||||
| Total Investment | 4.14 billion | |||||
Editing by Reiner Simanjuntak