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NEWS UPDATES Asean Affairs        17   June 2011

Bakrie to build infrastructure

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Bakrie & Brothers, the holding company for various business units owned by the Bakrie family, plans to spend US$5 billion building infrastructure projects over the next five years, an executive said.

Bobby Gafur Umar, president director of Bakrie & Brothers, said on Wednesday that the company’s prospective projects included toll roads, water and power plant projects.

He said Bakrie & Brothers’ interest in infrastructure came from its desire to help the government achieve its long-term economic goals. Out of the Rp 2,000 trillion ($234 billion) needed for infrastructure, he said, the government could only finance 20 percent, leaving it to the private sector to cover the gap.

The company has already signed an agreement with South Korea’s Samsung to develop and operate a power plant in Tanjung Jati, East Java. Other projects in the near future include a 150 megawatt geothermal power plant in Telaga Ngebel, Central Java, and a 33 MW geothermal project in Sukoria, East Nusa Tenggara.

Bobby said Bakrie & Brothers would invite Australia’s Panax Geothermal to join the projects. It also plans to build power plants in East Kalimantan.

“Total investment for our power projects in the next three to five years is between $2 to $2.6 billion,” he said.


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