UAE to develop $500 million Tourism Resort in Indonesia’s Aceh
<span style="font-weight: 400;"> The UAE is to develop several major infrastructure projects in Indonesia, including a multimillion-dollar tourism resort in its westernmost Aceh province, top Emirati and Indonesian ministers have confirmed.</span> <span style="font-weight: 400;">A series of busin
Published -
Mar 12, 2021 4:25 AM
The UAE is to develop several major infrastructure projects in Indonesia, including a multimillion-dollar tourism resort in its westernmost Aceh province, top Emirati and Indonesian ministers have confirmed. A series of business agreements were signed by the two nations during a Jakarta visit of UAE Energy and Infrastructure Minister Suhail Al-Mazroui. The agreements are a part of a $22.9 billion deal signed during Indonesian President Joko Widodo’s Abu Dhabi visit in January last year. The investment deal, also covering energy, infrastructure and mining, is seen as the biggest in Indonesia’s history. The tourism resort development project, which according to Indonesia’s Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan is valued at between $300 million and $500 million, is expected to start in Aceh Singkil district in May. Aceh, a semi-autonomous province on the northwest tip of Sumatra Island, is the only region in Muslim-majority Indonesia that imposes Shariah. The project agreement was signed by Aceh Governor Nova Iriansyah and Amine Abide, executive director of Murban Energy, a UAE company whose investment portfolio includes the development of luxury resorts in the Maldives and Seychelles. According to a statement by the Indonesian Ambassador to the UAE, Husin Bagis, one of the considerations for developing the project in Aceh is that it is only five hours away from the UAE by plane. He said that Abide had visited nine islands in the Aceh Singkil district that were shortlisted for the project. Among the agreements inked in Jakarta, which Al-Mazroui said are follow-ups to those signed in Abu Dhabi last year, is a $1.2 billion deal between UAE’s logistics company Dubai Port (DP) World and Indonesia’s Maspion group to develop a port and an industrial zone in Gresik, East Java.
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