Lotte Group to invest $6 billion in Indonesia
The Jakarta Post. Jakarta - 22/02/2011
South Korea's retail giant Lotte Group is planning to invest US$6 billion over the next four years to expand its business in Indonesia.
“Besides developing their retail unit they also want to develop other sectors of their business,” Indonesian Industry Minister MS Hidayat said Tuesday, as quoted by tempointeraktif.com.
He said Lotte had expressed its interest in petrochemical, office property and electricity businesses and that investment in petrochemical alone may reach $5 billion.
The minister said the Indonesian government would support Lotte's investment plans.
Meanwhile, Indonesia's Investment Coordinating Board (BKPM) chief Gita Wirjawan said Lotte was planning to increase its Lotte Mart outlets from 19 to 60 by 2015.