UAE to invest $9.5bn in Indonesia smelters

The United Arab Emirates plans to invest $9.5 billion in aluminium smelters in Indonesia's Kalimantan region, Indonesia's ambassador to the UAE said on Wednesday.

"Emirates Alumunium will invest $4bn in West Kalimantan to build an alumunium smelter and a power plant...Ras Al Khaimah Investment Authority will invest $5.5bn in East Kalimantan to build an alumunium smelter, a power plant and a railway line related to the projects," M Wahid Supriyadi told reporters.

Earlier this month, Indonesia's trade minister said India's state-run National Aluminium Co Ltd (Nalco) will invest $4bn in an aluminium smelter and power plant in Indonesia's East Kalimantan province.