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MENAFN - - 10/10/2012

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(MENAFN) Japan is set to extend USD13 billion of funding for infrastructure projects in Indonesia, as it seeks to tap into the Southeast Asian country's fast economic expansion, Reuters reported.

The Japanese funds are part of a jointly funded USD42.75 billion development plan for the greater Jakarta area.

Japan will finance its share mainly in the form of development assistance, according to a Japanese trade ministry official.

The countries have agreed to work on 45 priority projects to improve the region's transport and energy infrastructure, including a rapid transit rail system and a new port at Cilamaya. Slated for completion by the end of this decade.

Eleven Japanese companies including Mitsubishi Corp, Hitachi Ltd, JGC Corp and Chiyoda Corp are already participating, the official said.

 






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