Indonesia, South Korean firms agree to pursue $6.2 bln worth of deals

Doosan Enerbility Co

11/09/2018 11:03

Sept 11 (Reuters) - Indonesian and South Korean companies
agreed to pursue $6.2 billion worth of deals at a bilateral
business forum in Seoul attended by Indonesian President Joko
Widodo, authorities in Jakarta announced on Tuesday.
    Indonesia's Investment Coordinating Board (BKPM) said in a
statement that 15 memorandums of understanding (MOU) and six
investment commitments were signed on Monday, including some
announced previously.
    BKPM said South Korean firms Parkland, LS Cable & System
Asia Ltd  229640.KS , Sae-A Trading, Taekwang Industrial Co Ltd
 003240.KS , World Power Tech and InterVet confirmed investment
commitments totalling $446 million.
    The MOUs also involved energy deals aimed at easing surging
power demand in Indonesia, BKPM said.
    Hyundai Engineering & Construction Co Ltd  000720.KS , which
has been working on a $470 million hydro-power plant in
Indonesia, signed an MOU to promote cooperation with a South
Korean power utility and an Indonesian firm, a Hyundai official
said separately. 
    Other MOUs involved Doosan Heavy Industries & Construction
Co Ltd  034020.KS , which has said it would build two coal-fired
power plants worth $1.68 billion in Indonesia.  urn:newsml:reuters.com:*:nS6N1TD007
    Korea Midland Power Co Ltd  KEPCOM.UL , POSCO Engineering &
Construction Co Ltd and Hyundai Engineering Co Ltd  HYENG.UL 
also announced an MOU with Indonesia's PT Sulindo Putra Timur to
build a 50 MW hydro-power plant in Indonesia for $300 million,
BKPM said.
   Widodo on Monday told reporters he was aiming for bilateral
trade between the two countries to reach US$30 billion by 2022.

($1 = 14,852.0000 rupiah)

 (Reporting by Fanny Potkin in JAKARTA and Ju-Min Park in SEOUL)
 ((f.potkin@thomsonreuters.com;))