Reliance ADAG to invest USD 5-10 bn in Indonesia

New Delhi: Billionaire industrialist Anil Ambani today committed investments worth USD 5-10 billion in various businesses in Indonesia at a meeting with the South Asian nation’s President 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, 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.