Xinhua/GE invests 1.2 bln USD to expands operation in Indonesia
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JAKARTA, (Xinhua) - U.S.-based General Electric (GE) has allocated 1.2 billion U.S. dollars to finance its expansion outside Indonesia's key island of Java by opening a brand new office in East Kalimantan province's capital of Balikpapan, local media reported here on Wednesday.
"Our office in Balikpapan would be the fifth in Indonesia and the first one serving outside Java island," GE Indonesia President Handry Satriago was quoted by the tempointeraktif.com as saying.
The opening of GE office in Balikpapan was aimed at providing supports towards rapid development in energy, infrastructure, health and train transportation industry sectors in East, Central and South Kalimantan provinces, he said.
"Our investment in those sectors has reached 1.2 billion U.S. dollars with the revenue of more than 500 million U.S. dollars," the GE executive said, adding that it reaped profit growth of 35 percent from energy, transportation, health and financial services in those provinces.
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