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Mitsubishi to invest up to $20bn in Indonesia

JAKARTA, March 2, 2011 – Indonesia said Wednesday that Japan\’s Mitsubishi Corp. planned to invest up to $20 billion in the Southeast Asian nation over 10 years in projects ranging from car making to infrastructure.

The Japanese conglomerate "will invest in several projects in Indonesia," said the head of Indonesia\’s Investment Coordinating Board, Gita Wirjawan, after meeting Mitsubishi president and chief executive Ken Kobayashi and President Susilo Bambang Yudhoyono.

Other projects Mitsubishi is interested in are the Jakarta area\’s airport railway project, construction of a sport utility vehicle (SUV) plant and construction of a power plant, officials said.

Mitsubishi is already involved in Indonesia\’s petroleum, shipping, fertiliser and industrial machinery sectors.

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