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Thu 4 Mar 2010 08:48 AM

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Qatar poised to launch $1bn Indonesia fund

Qatar Holding eyes fund to invest in infrastructure, energy, service sectors.

Qatar Holding is on the brink of establishing a wholly owned investment vehicle in Indonesia with start-up capital of $1 billion, a senior Indonesian official has said.

Gita Wirjawan, chairman of the Investment Coordinating Board (BKPM), said the investment company could be officially established by the end of the month, according to a report in the Jakarta Globe.

“Qatar is interested in investing in the infrastructure, energy and services sectors,” he said in the article.

Gita said he met with Qatari officials in Doha in February and they had expressed their desire to push ahead with creating the firm.

The original investment plan was announced in May 2009 after an memorandum of understanding was signed for a joint venture firm, with Qatar taking an 85 percent stake and the Indonesian government the remainder.

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