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NEWS UPDATES 19 June 2009

Mideast firm seen investing $1bn in Indonesia plant

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Qatari investors are interested in owning an 85 percent stake in a planned $1 billion power plant in Indonesia, Reuters reported quoting a news story in a Qatar daily.

The joint venture plant to be built in Bali is one of many projects planned between Qatar and Indonesia, including investments in natural resources and infrastructure, Alwi Shihab, the President of Indonesia's special Middle East envoy was quoted by The Peninsula newspaper as saying.

Qatar is also interested in buying military aircraft manufactured by state aerospace firm, Indonesian Aerospace, Shihab was quoted as saying. Indonesia had presented investment proposals to the Qatar Investment Authority, the country's sovereign wealth fund, he said.

The Qatar Investment Authority plans to focus more on energy and commodities, food and water in a strategic overhaul because prices for these products will pick up, the authority's chief executive, Hussein al-Abdullah said in March.


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