Indonesia Hints at South Korean Energy Deal

Indonesia's Department of Energy and Mineral Resources says it expects a number of South Korean companies to invest up to $1.5bn in the nation's electricity, gas and oil industry, according to Thomson Financial.

The publication quoted ministry staff member Tamrin Sihite as saying the agreements would be signed under witness of Indonesian President Susilo Bambang Yudhoyono, but he would not disclose which companies were looking to invest and how the monies would be distributed.

It was reported today that the president is scheduled to visit Seoul next week for talks with President Roh Moo-hyum to follow up on talks held last year which aimed to set off a strategic partnership between the two nations.

The talks focussed largely on trade and economic partnerships with a certain emphasis placed on energy and investment.

By staff writer