Capital Investment Group, an investment company from the United Arab Emirates, will spend at least $1 billion in direct investment and share purchases in Indonesia, a company official said, Investor Daily reported.
"We are interested in the energy, infrastructure and property sectors," chief executive of Al Borouge Securities, representing Capital Investment, Husam Salman Al Ameri said on Wednesday.
Ameri said talks are still continuing over due diligence of shares to be acquired and projects to be financed.
He said the global financial crisis would not discourage Capital Investment from expanding operations in Indonesia, adding that on the contrary that interest is growing with the shift in power from the West to the East.
"Share prices in Indonesia are now cheap but have good prospects of growing," he said.
Dow Jones reported that CIG had also had talks with telcom operators Telkomsel and Indosat.