UAE plans to invest $3 billion in energy projects in Indonesia

The UAE plans to invest $3 billion in energy projects, ranging from oil refineries to infrastructure, in Indonesia through a sovereign wealth fund. The UAE companies will partner with Indonesian state-owned and private companies. The deals include the Indonesian state-owned oil and natural gas corporation, Pertamina, upgrading a refinery for the Abu Dhabi National Oil Company (ADNOC). Pertamina will also sign a deal to buy 170,000-520,000 tonnes of liquefied petroleum gas from ADNOC.

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