Saudi, Indonesia ink US$27b in deals spanning clean energy, petrochemicals
Indonesian President Prabowo Subianto visited the Gulf kingdom on Wednesday and met Saudi Crown Prince Mohammed bin Salman.
The two sides also agreed to bolster cooperation in the supply of crude oil and its derivatives, improve supply chains and their sustainability in the energy field and strengthen cooperation in mineral resources, the Saudi state news agency said.
Trade between the two countries amounted to around US$31.5 billion in the last five years, according to SPA.
Saudi Arabia's ACWA Power signed initial agreements to explore investment opportunities into renewable energy projects with sovereign wealth fund Danantara Indonesia and state energy firm Pertamina, according to a statement from Danantara.
The companies are expected to explore potential investments with up to US$10 billion worth of project funding, Danantara added. — Reuters
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