Sumitomo yet to make investment decision for Indonesia

Sumitomo Corp is merely conducting feasibility studies but has not made any investment decision on energy projects in Indonesia.

This was emphasized by a company spokesman, after Indonesian Energy Minister Jero Wacik said that Sumitomo plans investment in power and energy projects worth $2.5 billion in Central Java, a gas receiving terminal worth $4 billion, and a geothermal plant in Muara Labo worth $700 million, among other projects.

"We are conducting feasibility studies in various projects in Indonesia, but we haven't made investment decisions in any of those projects yet," the spokesman said.

Sumitomo already operates power plants in Java, including Tanjung Jati coal-fired power plants and the Wayang Windu geothermal power station. It also has stakes in the Batu Hijau copper and gold mine.

The energy minister said Sumitomo's investment in the country has so far reached $5 billion.

Sumitomo Chief Executive Officer Susumu Kato had indicated the company was willing to increase investments in Indonesia after a meeting with the country's president on Tuesday, but did not give any details.

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