Wednesday, January 26, 2011

Adani, Reddy Lead India's Billionaires in $15 Billion Indonesia Expansion - Bloomberg

Adani, Reddy Lead India's Billionaires in $15 Billion Indonesia Expansion - Bloomberg: "Indian companies led by billionaires Gautam Adani and G.V. Krishna Reddy signed accords worth $15 billion for projects including airports, steel plants, ports and railroads in Indonesia.

A GVK Power & Infrastructure Ltd.-led venture will spend as much as $4 billion to build two airports in Indonesia and Adani Group signed a deal to build a railway and port worth about $1.8 billion, the companies said separately yesterday. Indian companies including Tata Power Ltd. signed 18 agreements with Indonesia, according to a government statement.

Yudhoyono said India and Indonesia have pledged to double bilateral trade to $25 billion by 2015 from the current level of about $12 billion.

This is Yudhoyono’s first state visit to India since 2005 when the countries announced a strategic partnership aimed at enhancing trade and political ties. He will be the chief guest at Republic Day celebrations today."

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