REPUBLIKA.CO..ID, JAKARTA -- The U.S. and Indonesian business sectors agreed on investment proposals worth more than US$10 billion during U.S. Vice President Michael Pence's visit to Indonesia on April 20 and 21.
"This agreement reflects how great the American companies' interest in investing in Indonesia is," Pence said in his address at Hotel Shangrila here on Friday.
During the visit, the two countries signed 11 business agreements, which are mostly related to information technology and energy, including oil, gas and renewable energy.
Pence and Indonesian Vice President Jusuf Kalla witnessed the signing of the newest Memorandums of Understanding (MoU), including those between Pertamina and Exxon Mobil for an LNG project worth US$6 billion, and those between Perusahaan Listrik Negara (PLN) and Pacific Infra Capital for the development of electricity generator turbines worth US$2 billion in Java and Bali.
The two countries also signed nine MoUs on the development of existing projects in the presence of Indonesian Energy and Mineral Resources Minister Ignasius Jonan and U.S. Deputy Ambassador to Indonesia, Brian McFeeters.
The MoUs were signed between Perusahaan Listrik Negara (PLN) and Applied Materials, Jababeka Infrastructure and Greenbelt Resources, PLN and Halliburton, PT Dirgantara Indonesia and Honeywell Aerospace, the Indonesian Defense Forces (TNI) and Lockheed Martin, and PT Indonesia Power, PT Pembangkitan Jawa Bali (PJB) and Power Phase.
Three other MoUs were signed earlier. They include those signed between the Samarinda city government in East Kalimantan and Next Gen, PLN and Ormat, and PLN and General Electric.