GE Investing Up to 1 Billion in Indonesia GE

GE Investing Up to $1 Billion in Indonesia

"The current government’s vision and more recent plans to accelerate spending on infrastructure have given us the confidence to make this commitment,” said GE’s Vice Chairman John Rice.

On the sidelines of a meeting between President Obama and the President of Republic of Indonesia, Joko Widodo, General Electric Co. (IW 500/6) announced on Oct. 26 that it will invest up to $1 billion in the power, oil and gas, and healthcare sectors to support Indonesia’s accelerated economic growth.

“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,” said  GE’s Vice Chairman John Rice.

As Indonesia has set an ambitious goal to increase power generation capacity by 35 GW by 2019, GE said it will bring its latest technology and will partner with local companies to expand their manufacturing and assembly capabilities. GE will also 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.

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. Earlier this year GE relocated the headquarters of its healthcare business in ASEAN to Jakarta earlier this year.

GE said that these investments will create over 6,000 jobs.

Currently the company 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. 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.

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