April 18, 2011
Samsung C&T has announced plans to invest USD150-200 million in an Indonesian solar power plant with a panned capacity of 50MW. Following a meeting with Samsung C&T CEO, Shin Kim, the Indonesian Coordinating Minister for Economic Affairs, Hatta Rajasa, stated that the president of Samsung C&T had expressed a commitment to the development of solar energy in Indonesia.Samsung C&T Corporation is a Korea-based firm engaged in construction and trading. The company consists of two divisions. The first division is involved in construction, including commercial and industrial construction and civil engineering. The division specialises in large scale projects, including subways, roads, bridges, harbours, airports and large-scale reclamation projects, as well as energy infrastructure projects, including nuclear power plants, coal fired power plants, energy storage and transmission facilities, and other related services. The trading division supplements the works of the construction division through the international trading of chemicals, steel products, electronic materials, textiles and others products, and is also involved in overseas resource projects. The announcement is representative of government-industry coordination in Korea’s foreign economic policy and highlights the substantial increase in Korean interest in Indonesia.