ASEAN KEY DESTINATIONS
Pertamina reduces 2010 investment
Pertamina's director for investment and risk management Ferederick ST Siahaan said Tuesday the company planned to slash its investment target from Rp 44.6 trillion to Rp 26 trillion. "This is due to some external factors, including currency and the government’s decision delay in some projects," he said.
Ferederick said the initial investment target was set based on an assumption that rupiah was steady at Rp 10,000 against US dollar. "Now the rupiah is around Rp 9,000 per US dollar. The stronger currency contributes around Rp 4 trillion to the investment reduction," he said.
He added that the government's late decision in some important projects, including the Donggi Senoro LNG development project, also contributed to the lower realized investment.
He said the delay investment would be carried over to following years.
Comment on this Article. Send them to email@example.com
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below