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FINANCIAL NEWS
Dubai’s Geap to invest USD50-100m in Indonesia venture
16 Sep 2015
(MENAFN) Dubai’s Geap International announced that it is planning to open a chain of food preservation plants in Indonesia, which was given the approval during Indonesia’s President visit to the UAE.
The food preservation project includes the setting up of a series of plants in various cities across Indonesia and involves investment of between USD50 and USD100 million per unit depending on the capacity.
“Finally, Geap is going to set up business in our country and I am very happy about it. We will provide him with whatever support and help he might require,” the Indonesian leader said.
Lulu Group has already committed a huge investment for setting up a chain of hypermarkets. Dubai’s trade with Indonesia is estimated to be more than USD1 billion in the first six months of 2015.
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