Jakarta, Indonesia – February 19, 2013 – General Electric (NYSE:GE) today announced its plan to spend more than USD300 million in Indonesia as part of its commitment to support the country’s focus on infrastructure development. Indonesia has allocated a multi-billion dollar infrastructure development budget and is one of the world’s fastest growing economies with GDP growth projected to be about 6% over the next few years.
The investment will see GE strengthening its presence in the country, increase local content of its technology and solutions and contribute in a significant way to human resource development and local talent building.
GE will over the next five years partner with Perusahaan Listrik Negara (PLN), Garuda Indonesia and Pertamina to develop the GE Learning and Technology Center which will serve as a center for leadership and engineering and localization of GE applied technology.
GE’s Chairman and CEO Jeff Immelt who is on a visit to Indonesia, witnessed the signing of a Memorandum of Understanding between GE, PLN, Garuda and Pertamina to jointly develop the center.
“We have seen extraordinary growth in our business here in Indonesia over the past two years in tandem with the country’s accelerated growth path to build more infrastructure, said Immelt. “GE’s commitment to grow with Indonesia goes back more than 60 years ago. Today, we are in partnership with public and private sector companies to provide innovative technology solutions to meet the socio-economic needs of a stellar ASEAN economy.”
“We see a great opportunity to support the country in energy and health infrastructure technology development and developing its human resources for sustainable economic growth,” he added.
Handry Satriago, CEO GE Indonesia, said, “GE believes that sustainable growth can only be achieved if we also support the growth of our customers and the country where we operate. The investment plan and the partnership to develop GE Learning and Technology Center demonstrate our firm commitment to grow together with our customers and with Indonesia.”
During his visit, Immelt met with the Minister of Trade, Gita Wirjawan on the GE investment in Indonesia, as well as the Minister of Industry, MS. Hidayat, during the launch of Garuda Indonesia’s CFM56-7B engine test cell to mark GE-Garuda Indonesia collaboration on GMF AeroAsia Engine Shop Capabilities.
As part of GE’s commitment to help enhance local leadership capabilities, Immelt met with more than 200 members of the Indonesia Chambers of Commerce and Indonesia Employers’ Association, to share his insights on Leadership in an Increasingly Competitive and Globalized Economy.
GE has been in Indonesia since 1940, providing the latest technology and solutions in aviation, transportation, power generation, energy management, oil and gas, health, and lighting. GE has a workforce of 800 local employees in its 10 facilities and project locations in Indonesia in addition to its country head office in Jakarta and two factories in Yogyakarta and Batam and a service center in Bandung. GE has invested over USD1 billion in Indonesia to date and has seen consistent double digit revenue growth in the last few years.
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For information, please contact:
GE GG&O Indonesia
GE GG&O ASEAN
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