Saudi could bring $25bn investment to Indonesia

Saudi Arabia's King Salman will visit Jakarta and Bali on the Indonesian leg of his Asian tour next month, bringing 1,500 people in his entourage including 10 ministers, Indonesian officials said.

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Saudi could bring $25bn investment to Indonesia

Saudi Arabia’s King Salman will visit Jakarta and Bali on the Indonesian leg of his Asian tour next month, bringing 1,500 people in his entourage including 10 ministers, Indonesian officials said.

“This is a very historic visit for us,” Cabinet Secretary Pramono Anung told reporters on Tuesday, adding that the king would be in Indonesia from March 1 to 9. He would spend the last six days of his trip “relaxing” in Bali.

Anung said Indonesian President Joko Widodo hoped the visit would bring Saudi investments of up to $25 billion.

There was no immediate comment from Saudi Arabia.

The last visit by a Saudi king to Indonesia was 46 years ago, when King Faisal came to the archipelago.

Indonesia hopes the visit will help further cement relations between its state-owned energy company Pertamina and Saudi Aramco, which are working together to upgrade the Cilacap refinery, Indonesia’s largest refinery complex, while eyeing other developments. More info

By Reuters  www.arabianbusiness.com

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