"In the future we will try to use domestic products for infrastructure development."Jakarta (ANTARA News) - The Committee for Indonesian Economic Development Acceleration and Expansion (KP3EI) has expressed its support for the infrastructure development cooperation agreement between Indonesia and the US.
"I think it`s good. In the future we will try to use domestic products for infrastructure development," KP3EI Secretary Luky Eko Wuryanto said here on Thursday.
He stated that the cooperation agreement would benefit Indonesia, expressing hope that the US would introduce cutting-edge technologies and help develop state-of-the-art plants in the country.
The memorandum of understanding (MOU) on infrastructure development was signed by the Indonesian Industry Ministry`s director general for international industrial cooperation, Agus Tjahjana, and US Assistant Secretary of State for Economic, Energy and Business Affairs Jose W. Fernandez in Jakarta on August 8.
The MOU involves investment in 13 out of the 22 sectors that are covered under the Master Plan for the Acceleration and Expansion of Indonesia`s Economic Development (MP3EI) programme.
The bilateral cooperation will begin with a US$2 billion joint project between state-owned oil company Pertamina and US fuel technology company Celanese.
Based on KP3EI data, the investment value of MP3EI groundbreaking projects has reached Rp140 trillion. As of July 2012, there are nine real sector projects and 27 infrastructure projects.
"About 65 percent of the investment target of Rp370 trillion, with the planned 59 projects, has been achieved so far," Agus said.
(T.SDP-54/INE/KR-BSR/F001)
Editor: Priyambodo RH
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