REPUBLIKA.CO.ID, JAKARTA - Indonesia Infrastructure Guarantee Fund (PII) guarantees towards political risk for US investment in Indonesian infrastructure project. The Memorandum of Understanding was signed Tuesday between PII and US Government's development finance institution, Overseas Private Investment Corporation (OPIC).
Eight US companies are expected to work in infrastructure project in Indonesia. The companies are Blanck and Veatch, Cisco System, General Electric Company, Honeywell International Inc, Oshkosh Corporation, the Shaw Group, Westinghouse Electric Company, and Worley Parsons LLC. However, the Executive Director of PII, Sintya Roesly, said those companies had not made any commitment to invest in Indonesia.
Before investing in Indonesia, the companies must meet PII's requirements. PII will evaluate their project through its risk and competitive scale. PII and OPIC also hand in hand to provide guarantees.
The signing was witnessed by Under Secretary of Commerce Francisco Sanchez. He said that US companies would offer many probabilities in building infrastructure in Indonesia, such as machinery, infrastructure management, and technology. Sanchez also promises to help Indonesia reaching economic growth.
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