Tuesday, 9th October 2012
In General Japan News,
Japan makes major Indonesian investment
Japan is helping to boost infrastructure in the Indonesian capital of Jakarta in a $43 billion deal first brokered in December 2010.
A master plan has been drawn up to help with the development of 45 projects across the city, a statement from the Ministry of Economy, Trade and Industry revealed.
As Bloomberg reports, 11 Japanese companies have been enlisted to help with the construction, including big brand names like Mitsubishi, Hitachi and Chiyoda.
As many as 18 projects are scheduled to get off the ground by the end of 2013, with core areas including roads, railways, harbours and airports to be targeted.
Private and public funding from both countries is set to be used for the joint venture, which aims to be realised by 2020.
Surrounding areas of greater Jakarta are included in the plans, such as Bongor, Depok and Tangerang.
According to Japan's Ministry of Foreign Affairs, diplomatic relations with Indonesia were established in April 1958 after the Treaty of Peace was signed by both nations.
Posted by Susan Ballion