Qatar Holding launches $1b Indonesian fund

11 May 2010

(MENAFN) Qatar Holding, the investment arm of Qatar’s sovereign wealth fund, announced that it has launched an Indonesian fund worth $1 billion, to invest in infrastructure and mineral resources in Southeast Asia’s biggest economy, Reuters reported.

Head of Indonesia’s investment coordinating board, Gita Wirjawan, said that the local investment vehicle, PT Qatar Holding Indonesia, was set up a few days ago, with the focus on natural resources and infrastructure projects.

Originally, the two countries planned to set up a jointly owned fund with Qatar holding an 85 percent stake, but Qatar eventually opted for a wholly owned fund.

It is worth mentioning that Qatar Holding has just bought the famous London department store Harrods, and it is estimated to control nearly $70 billion in assets and has interests in many leading companies in Europe and the US.

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