Indonesia and Japan sign USD24bn infrastructure agreement

Indonesia and Japan signed an agreement on developing infrastructure in Jakarta valued by up to USD24 billion as part of efforts by Indonesia to develop transport infrastructure (Xinhua/Jakarta Post, 13-Dec-2010). The projects would include transportation infrastructure such as the construction of an airport, road, electricity generator and seaport. A technical team is to be established to design a master plan for the projects development, which is expected to complete by the end of 2011. The feasibility study is targeted to be completed in 2012 before the project commences in 2013. The project would be carried out in two phases, from 2010 to 2014 and then from 2014 to 2020.