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Saudi king's visit to Indonesia to step up economy cooperation, investment

Xinhua, February 22, 2017 Adjust font size:

The upcoming visit of Saudi Arabia's king to Indonesia in March aims at strengthening cooperation on economy and investment, Indonesian government officials said Wednesday.

King Salman Bin Abdulaziz Al Saud is scheduled to visit Indonesia from March 1 to 9.

"The agenda of the visit is certainly to smooth the economic cooperation. Again, economic cooperation will be the main agenda of King Salman's visit to Indonesia," Indonesian Foreign Minister Retno Marsudi said Wednesday.

During the visit, several investment deals will be inked, including the upgrading of an oil refinery in Cilacap of Central Java, Indonesia which involves Saudi Arabia's oil and gas firm Aramco, and another project valued at 1 billion U.S. dollar, said Pramono Anung, secretary of cabinet.

Aramco and Indonesia's oil and gas firm PT Pertamina are now working together in upgrading Indonesia's largest oil refinery complex in Cilacap.

"The president said that he expects Saudi Arabia's investment will rise to 25 billion U.S. dollars," he said.

The King will bring 1,500 people in his entourage, including 10 ministers.

The last visit by a Saudi Arabian king to Indonesia was made 46 years ago by King Faisal. Enditem