Indonesia, South Korea set to sign huge energy deals
Wednesday, 25 July 2007
SEOUL, July 24 (AFP): Indonesian President Susilo Bambang Yudhoyono was to hold a summit with his South Korean counterpart Roh Moo-Hyun today, on the first full day of a visit expected to seal huge energy deals.
Yudhoyono will witness the signing of 14 agreements covering government administration, energy, special industrial zones and transport infrastructure, said his cabinet secretary Sudi Silalahi.
"The highest value is in the energy sector, that is 8.5 billion dollars," Silalahi said in Seoul.
The biggest of the deals, all of which are at the preliminary stage, is a 5.5 billion dollar direct coal liquefaction project in Indonesia's East Kalimantan province on Borneo island.
Yudhoyono will witness the signing of the deal, to extract crude oil from coal. It involves Indonesia's Nuansa Cipta Coal Investment and South Korea's Kenertec, POSCO Engineering and Construction and Samsung Securities, according to Jakarta officials.
Yudhoyono will witness the signing of 14 agreements covering government administration, energy, special industrial zones and transport infrastructure, said his cabinet secretary Sudi Silalahi.
"The highest value is in the energy sector, that is 8.5 billion dollars," Silalahi said in Seoul.
The biggest of the deals, all of which are at the preliminary stage, is a 5.5 billion dollar direct coal liquefaction project in Indonesia's East Kalimantan province on Borneo island.
Yudhoyono will witness the signing of the deal, to extract crude oil from coal. It involves Indonesia's Nuansa Cipta Coal Investment and South Korea's Kenertec, POSCO Engineering and Construction and Samsung Securities, according to Jakarta officials.