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China Minsheng Investment to invest US$5b in Indonesia industrial park
[SHANGHAI] China Minsheng Investment Group said on Friday it would invest US$5 billion to develop an industrial park in Indonesia, in a move to support China's "one belt, one road" project.
The private equity firm said the investment was part of a US$40 billion worth of agreements that it signed with the Indonesia-China Business Council in Beijing on Friday.
The one belt, one road project is an initiative by China to reestablish trade links along the old Silk Road route.
It said it would develop the industrial park project with 10 other private Chinese enterprises which it did not name.