General Electric will double RI investment

General Electric will double RI investment

JAKARTA (JP): The American "gorilla" General Electric plans to double its investments in Indonesia from the current level of US$150 million within the next five years.

The president of General Electric Indonesia, Stuart L. Dean, said here on Tuesday night that in addition to its seven subsidiaries currently operating in Indonesia, General Electric will focus on infrastructure projects, including power generation and telecommunications.

General Electric has established seven joint venture companies in the country, beginning with PT General Electric Teknologi Indonesia, which was set up in June 1992 with the Agency for the Management of Strategic Industries (BPIS).

The other subsidiaries are PT GE Astra Finance, PT Astra Sedaya, PT GE Lokomotif Indonesia, PT General Electric Lighting Indonesia, PT GE Nusantara Turbine Services and PT Paiton Energy Company.

General Electric's partners in Indonesia are both private and state-owned firms, including the Astra Group, Batu Hitam, which is controlled by businessman Hashim Djodjohadikusumo, and BPIS, which is chaired by State Minister of Research and Technology B.J. Habibie.

"We are a giant business group, so we need another giant as a partner. Imagine if a gorilla dances with a smaller mate, it would be unbalanced," said Dean.

Dean added that his company is also considering entry into telecommunications in Indonesia, though he would not go into detail.

General Electric runs 12 core businesses -- aircraft engines, broadcasting (NBC), electrical distribution and control, drives and motors, financial services, power systems, information services, lighting, locomotives, home appliances, medical systems and plastics. (icn)