Anil Ambani group to invest $5-10 billion in Indonesia
Reliance ADAG Group Chairman, Mr Anil Ambani, today committed investments worth $5-10 billion in various businesses in Indonesia at a meeting with the South Asian nation's President, Mr Susilo Bambang Yudhoyono, in Jakarta.
The investments would be made in various sectors ranging from infrastructure, railways, power plants, mines, financial sector, media and entertainment business.
Besides the President, the Reliance ADAG Chairman also met top officials of BKPM, the Investment Coordinating Board of the Republic of Indonesia, a Reliance Power spokesperson said.
Mr Anil Ambani also met the Indonesian Industry Minister, Mr MS Hidayat al, and the Transportation Minister, Mr Freddy Numberi, among others.
The 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 mines in the country.
BKPM works as the primary interface between business and government and is mandated to boost domestic and foreign direct investment by creating a conducive investment climate.