NP Qatar acquisitions Paiton Energy at US$1.3 billion

"This acquisition also reflects our confidence to invest in Indonesia," Nebras Power`s CEO Khalid Mohammed Jolo said.
London, UK (ANTARA News) - The Qatari State Owned Enterprise, Nebras Power (NP), has completed an acquisition of PT. Paiton Energy Indonesia worth US$1.3 billion or 35.5 percent of the shares through its subsidiary of Nebras Power Netherland BV, a statement from the Indonesian Embassy in Doha, Qatar received by ANTARA  here on Monday.

Indonesian Ambassador to Qatar Muhammad Basri Sidehabi welcomed the acquisition and hoped that the acquisition will give maximum benefit and improve Indonesias investment.

Nebras Powers CEO Khalid Mohammed Jolo said the acquisition is part of a long-term strategy of the company to seek profitable assets in the future.

"This acquisition also reflects our confidence to invest in Indonesia," Jolo said.

The acquisition of Paiton Energys shares is the first investment of Nebras Power in Indonesia in order to realize its vision to become a global leading power company.

NP Qatar also signed a Head of Agreement with PT. Pembangkit Jawa Bali, a subsidiary of the Indonesian Electricity Company (PLN) for the construction of combined circle power plant powered by natural gas.

The power plant with a total investment of US$700 million with a power of 2x250 MW will be built in Belawan, North Sumatra.

"If the project is completed, Nebras will build similar projects elsewhere," Jolo noted.

The ambassador said Qatar is intensively to diversify its investment by focusing business in Asian markets including Indonesia.

The Indonesian Embassy in Doha is also exploring the investment plan of Sheikh Fahad bin Hamad bin Khalifa Al-Thani to build a mall in Aceh.

The ambassador said that Qatari investors are exploring investment in tourism and agriculture sectors, including palm oil in order to pursue the vision of Qatar food security by 2030.

Currently, the Indonesian government is discussing various investment projects that have been submitted to the Qatar Investment Authority worth US$1 billion.

Qatar investment included finance, banking and communications. The assets of the Qatar National Banks (QNB) Indonesia and Indosat Ooredoo are constantly increasing.

The QNB investment has increased US$500 million to about US$3 billion since its operations eight years ago.(*)