Qatar Investment Fund to Be Finalized Next Week
Thursday, 25 January, 2007 | 15:54 WIB

Tempo Interactive, Jakarta: The government will soon finalize the establishment of the Qatar Investment Fund (QIF).

“The Finance Minister and I will finalize this when we met investors-to-be in the Middle East,” said Alwi Shihab, the President's Special Envoy of Middle East Region, after meeting with Vice President Jusuf Kalla, on Thursday (01/25).

Alwi said that, together with Finance Minister Sri Mulyani Indrawati, he would leave for the Middle East on February 2.

It is possible that there will be a signing of a memorandum of understanding on the establishment of joint companies for QIF funds that will be disbursed to infrastructure projects in Indonesia.

According to Alwi, Qatar will disburse funds of around US$900 million and the Indonesian government will also invest about US$100 million.

Alwi said that a joint venture company would manage the funds and select infrastructure projects considered to be profitable.

Projects that will be financed include toll roads, electric generating plants and harbors.

Alwi said that up until now, both parties have not yet decided which projects to be selected.

“When there is money, there are projects. It is better than having many projects with no cash,” he said.

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