Pulse.com.gh logo
Go


Business Prospecting GE announces investment in Indonesia’s oil and gas sector

The announcement was made on the sidelines of a meeting between the President of the Republic of Indonesia, Joko Widodo, and the President of the United States of America, Barack Obama.

  • Published: , Refreshed:
24/7 Live - Subscribe to the Pulse Newsletter!

The Washington office of General Electric has announced that it will invest up to $1 billion in the power, oil and gas, and healthcare sectors to support Indonesia’s accelerated economic growth.

The announcement was made on the sidelines of a meeting between the President of the Republic of Indonesia, Joko Widodo, and the President of the United States of America, Barack Obama. The investment will be made in tandem with GE’s participation in the country’s infrastructure build-out.

“Indonesia has been an important and strategic country for us for over 75 years and the current government’s vision and more recent plans to accelerate spending on infrastructure have given us the confidence to make this commitment," GE’s Vice Chairman John Rice said.

"Through this investment, we hope to expand our local business operations significantly, in a way that we believe will lead to a multiplier effect on the economy.”

The company says that Indonesia has set an ambitious goal to increase power generation capacity by 35 GW by 2019. To facilitate achieving this goal, GE will bring its latest technology and will partner with local companies to expand their manufacturing and assembly capabilities, as well as enhance repair and service capabilities in country. In addition, GE will help build Indonesia’s human capital through technical and leadership training programs.

In the oil and gas space, GE’s investments will include expanding the current subsea equipment manufacturing facility to include other GE product lines, and partnering with local companies to expand manufacturing and assembly locally.

More than 90% of the equipment manufactured in its oil and gas facility, such as subsea wellheads, surface wellheads, vertical Christmas trees, tubular products and connectors used in oil and gas exploration and production, is exported for use in global projects.

These commitments will result in the creation of over 6,000 jobs, technology transfer, training of over 1,000 people a year, and the expansion of local supply chains as GE’s business grows.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Ghana Politics Akufo-Addo fires Lands Commission bossbullet
2 Roshi Motman AirtelTigo CEO resignsbullet
3 MTN Ghana Selorm Adadevoh is MTN Ghana’s new CEObullet
4 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions...bullet
5 Shirley Frimpong-Manso and Ken Attoh owe The Royal Bankbullet
6 Salaries In 2018 Here are the dates public workers will be...bullet
7 Menzgold Ghana Investment company closes down its Gold Vault...bullet
8 Fuel Price Hikes Fuel prices to drop again this weekbullet
9 Economy Bawumia must stop misleading Ghanaians over cedi...bullet
10 Economy Of Ghana No profit because of cedi...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
3 Money Alert Meet Africa's richest womanbullet
4 Plane Crash Starbow suspends operations following plane crashbullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 Tech 6 reasons you should buy an iPhone SE instead of any of...bullet
7 Entrepreneurship Creating Success Systems | StartUpSchoolbullet
8 Support Finance minister buys Kantanka carbullet
9 Entrepreneurship How to be resourceful as an entrepreneurbullet
10 Bozoma Saint John 10 quotes from Uber top official,...bullet

Business