Reliance ADAG to invest USD 5-10 bn in Indonesia

Reliance ADAG to invest USD 5-10 bn in Indonesia

The investments would be made in various sectors ranging from infrastructure, railways, power plants, mines, financial sector, media and entertainment business.

Besides the President, Reliance ADAG Chairman also met top officials of BKPM, the Investment Coordinating Board of the Republic of Indonesia, a Reliance Power spokesperson said.

Reliance ADAG group is present in infrastructure, power, telecom and entertainment businesses in India and last year Reliance Power acquired two coal companies in Indonesia which own three coal mines in the country.

After the meeting, BKPM Head Gita Wirjawan said that the Reliance ADA Group has committed to new investment in Indonesia worth USD 5 billion - USD 10 billion in various sectors.

BKPM works as the primary interface between business and government and is mandated to boost domestic and foreign direct investment through creating a conducive investment climate.

Anil Ambani also met Indonesia's Industry Minister MS Hidayat al and Transportation Minister Freddy Numberi among others.

The Reliance ADA group is also planning to develop the railway infrastructure facilities for transporting the coal from mines to the port in Indonesia.