Indonesia’s new sovereign wealth fund eyes infrastructure investments

Workers at a construction site of Balikpapan-Samarinda toll road at Samboja district in Kutai Kertanegara regency, Picture taken in August 2019. – REUTERSPIXIndonesia's new sovereign wealth fund is exploring investment in dozens of projects, including toll road concessions worth US$2.6 billion , in its first foray into infrastructure assets, a deputy minister said on Wednesday.

Unlike sovereign wealth funds of richer countries, which manage excess oil revenues or foreign exchange reserves, the INA seeks foreign funds as co-investors to finance the country's economic development and aid pandemic recovery. The concessions, which include a toll road south of the capital Jakarta and parts of a new Trans Sumatra highway, are operated by state-controlled Waskita Karya, Jasa Marga and Hutama Karya, Kartika's presentation at an investment forum showed.The INA hopes to close some deals this year and hold roadshows, its new chief executive Ridha D.M. Wirakusumah told the same forum.

“We are expediting everything that we can,“ Wirakusumah said. “The funds are already in into our coffers right now, the discussions with the deal prospects are ongoing.”

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UAE to invest US$10 billion in Indonesia’s new sovereign wealth fundDUBAI/JAKARTA: The United Arab Emirates (UAE) will invest US$10 billion (RM41.2 billion) in Indonesia&039;s new sovereign wealth fund to be spent on proje...
Source: theSundaily - 🏆 25. / 51 Read more »

Saudi sovereign wealth fiund secures US$15 billion credit facilityDUBAI: Saudi Arabia&039;s sovereign wealth fund, the Public Investment Fund (PIF), said on Wednesday it has signed a US$15 billion (US$61.8 billion) multi...
Source: theSundaily - 🏆 25. / 51 Read more »

Khairuddin did not mention Najib’s name in police report on 1MDB, court told | The Malaysian InsightKhairuddin did not mention Najib’s name in police report on 1MDB, court told
Source: msianinsight - 🏆 8. / 63 Read more »

Lawyer lodges report against duo over 1MDB, Goldman claimsRosli Dahlan says he was acting for the sovereign wealth fund and not Putrajaya and that his fees were much lower than alleged. FMTNews 1MDB Goldman
Source: fmtoday - 🏆 5. / 72 Read more »

Bank Indonesia now owns more of nation’s debt than global fundsBank Indonesia’s ownership of the nation’s sovereign debt has surpassed that of global funds for the first time, highlighting the central bank’s growing role in helping to finance public spending. Msia to follow suit..if we as a nation don't clean up our act..Get rid of klepto politicians..
Source: staronline - 🏆 4. / 75 Read more »