Aussie Minister Praises Indonesia's Economy

Indonesia's economy, with 234 million people, has been growing strongly and could be in the top 10 globally by 2025, said Australian Trade Minister Craig Emerson. He will be visiting Jakarta this week to hold talks with Indonesian Trade Minister Mari Pangestu.

“As the two largest economies in south-east Asia, there is considerable scope for Australia and Indonesia to strengthen and expand their economic relationship,” Emerson said in his statement to VIVAnews on Sunday.

According to the Australian Embassy, Emerson is scheduled to visit Jakarta from Tuesday until Wednesday, 19-20 April 2011.

This is Emerson’s first visit to the country as Trade Minister, and comes as Australia and Indonesia prepare for negotiations on a Comprehensive Economic Partnership Agreement (CEPA). Prime Minister Julia Gillard and Indonesian President Suslio Bambang Yudhoyono launched the CEPA process in November last year.

Besides the CEPA negotiations, both ministers will discuss Indonesia’s ratification of the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) and the Doha Round of multilateral trade negotiations.

Emerson and Pangestu will also discuss the finalisation of a joint pilot project designed to help improve Indonesia’s cattle-breeding performance. Indonesia is Australia’s fourth-largest market for agricultural exports, behind Japan, China and the US. In 2009-10, the value of two-way trade between Australia and Indonesia was A$11.8 billion.

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Indonesia Inco Eyeing More Nickel Production

PT International Nickel Indonesia Tbk (Inco) said in a statement it will double annual nickel production from 73,000 metric tonnes within the last five years to 90,000 metric tonnes in the next few years.

Inco President Director Tony Wenas said the objective is expected to affect three provinces in Sulawesi positively.

Inco's operation in Sorowako, South Sulawesi, according to him, will improve production to 90,000 metric tonnes through brownfield method.

To back up the plan, the company will optimize production in processing facilities in Sorowako, including an uplift in furnace facilities.

"Inco will make a breakthrough by applying best exploration and mining methods," said Tony on Wednesday.

He said the project is reaching its final phase of development of which implementation is ready in 2011. "With regard to Karebbe Dam power plant project, it is expected to be completed in August 2011," he said.

The Karebbe project will produce electricity up to 90 megawatt.

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JBIC Prepares US$1 Bn for Power Plant

The Japan Bank for International Cooperation (JBIC) prepares US$1 billion to bring about two infrastructure projects under public-private partnership scheme.

According to JBIC Executive Director, Fumio Hoshi, the two projects include Steam-based Power Plant in Central Jawa and Geothermal Power Plant in Sarula, North Sumatra.

Fumio went in by saying that the fund JBIC has channeled through Indonesia reaches US$9 billion, which will be mostly allocated to LNG projects.

JBIC also plans to invest in Geothermal Power Plants in several Sumatra areas as well as transportation, coal-train railways, and mass rapid transit.

JBIC on the other hand makes arrangements to participate in a feasibility test on metropolitan priority area projects which include rebuilding of industrial zone in East Jakarta, Soekarno-Hatta Int'l Airport expansion, Tanjung Priok Harbor development, port construction in Cilamaya, industrial revitalization in Cikarang, at a total of US$30 billion.

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