WASHINGTON (Yosefardi) – GE 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 United States of America, Barack Obama.
The investment will be made in tandem with GE’s participation in the country’s infrastructure build-out.
GE’s Vice Chairman John Rice said GE’s spending over the next 5 years will target critical areas important to the economy and cover power generation, oil and gas, and healthcare. Indonesia has set an ambitious goal to increase power generation capacity by 35 GW by 2019.
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.
In the healthcare sector, GE will align with Indonesia’s objective of providing universal healthcare by supporting the expansion of the country’s primary healthcare ecosystem, including the development of up to 100 primary care clinics through technology and training innovations.
Given the importance of healthcare for the country, GE relocated the headquarters of its healthcare business in ASEAN to Jakarta earlier this year.
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.
Today GE employs nearly 1,000 people, with operations in Jakarta, manufacturing facilities in Yogyakarta and Batam, and a turbine service facility in Bandung.
GE’s investment in its three facilities have directly provided jobs for 800 Indonesians, supported the local supply chain and enhanced export capabilities for the country.