Russian oligarch said to invest $3b in Indonesia

Oleg Deripaska
Oleg Deripaska (right) with Russian President Vladimir Putin

Basic Element, a diversified conglomerate owned by Russian billionaire Oleg Deripaska, plans to invest up to $3 billion in Indonesia, according to Suryo Bambang Sulisto, the chairman of Indonesian Chambers of Commerce and Industry.

Basic Element is involved in five sectors – manufacturing, construction, energy, finance and aviation businesses – and according to its website, it has a presence in 21 countries in the world, in addition to its strong presence in Russia.

Deripaska was among the 1,200 investors who attended the APEC summit taking place in Bali.

“Most investors I met said they are interested in Indonesia and want to invest here. It is just a matter of a firm response from the government,” Suryo said.

Basic Element does not have a presence yet in Indonesia. The nearest location is a business operating in Queensland, Australia. The conglomerate employs around 250,000 people from its operations in Russia, the Commonwealth of Independent States of former Soviet Union countries, Africa, Australia, Asia, Europe and Latin America. Russia is a member of APEC.

Suryo did not provide details on Basic Element’s investment. However, in September 2012, Indonesian Industry Minister M.S. Hidayat said Russian companies like U.C. Rusal, the world’s biggest aluminum producer, and Norilsk Nickel, a global mining and metallurgical company, planned to invest in Indonesia.

Hidayat at the time said Rusal – one of the major assets of Basic Element – had surveyed parts of Indonesia and was considering investing in a $1.5 billion aluminum smelter next year.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

[caption id="attachment_16310" align="alignleft" width="300"] Oleg Deripaska (right) with Russian President Vladimir Putin[/caption] Basic Element, a diversified conglomerate owned by Russian billionaire Oleg Deripaska, plans to invest up to $3 billion in Indonesia, according to Suryo Bambang Sulisto, the chairman of Indonesian Chambers of Commerce and Industry. Basic Element is involved in five sectors - manufacturing, construction, energy, finance and aviation businesses - and according to its website, it has a presence in 21 countries in the world, in addition to its strong presence in Russia. Deripaska was among the 1,200 investors who attended the APEC summit taking place in Bali....

Oleg Deripaska
Oleg Deripaska (right) with Russian President Vladimir Putin

Basic Element, a diversified conglomerate owned by Russian billionaire Oleg Deripaska, plans to invest up to $3 billion in Indonesia, according to Suryo Bambang Sulisto, the chairman of Indonesian Chambers of Commerce and Industry.

Basic Element is involved in five sectors – manufacturing, construction, energy, finance and aviation businesses – and according to its website, it has a presence in 21 countries in the world, in addition to its strong presence in Russia.

Deripaska was among the 1,200 investors who attended the APEC summit taking place in Bali.

“Most investors I met said they are interested in Indonesia and want to invest here. It is just a matter of a firm response from the government,” Suryo said.

Basic Element does not have a presence yet in Indonesia. The nearest location is a business operating in Queensland, Australia. The conglomerate employs around 250,000 people from its operations in Russia, the Commonwealth of Independent States of former Soviet Union countries, Africa, Australia, Asia, Europe and Latin America. Russia is a member of APEC.

Suryo did not provide details on Basic Element’s investment. However, in September 2012, Indonesian Industry Minister M.S. Hidayat said Russian companies like U.C. Rusal, the world’s biggest aluminum producer, and Norilsk Nickel, a global mining and metallurgical company, planned to invest in Indonesia.

Hidayat at the time said Rusal – one of the major assets of Basic Element – had surveyed parts of Indonesia and was considering investing in a $1.5 billion aluminum smelter next year.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply