China's Shenzhen to invest $200m in western Indonesia

JAKARTA -- Shenzhen, one of China's fastest-growing cities, will invest $200 million in a special economic zone in western Indonesia.

The deal on the investment plan was inked by the Management Authority of Qianhai, Shenzhen's modern service industry cooperation zone, and the Indonesian Investment and Trade Organization (IITO) in Jakarta on Monday.

The funds will be invested into Tanjung Api-Api special economic zone in South Sumatra, said IITO president Triharsono Mukti Wibowo.

"The (Shenzhen) authority is interested in constructions of deep sea port, port for international container ship, and industrial estate," he said after the singing of the agreement.

For the industrial estate, Shenzhen asked for 500 hectare of land, said Triharsono.

The $200 million funds are the first phases of a series of investment expected from Shenzhen, he said.

"We expect a transfer of technology from China to the Tanjung Api Api project," said Triharsono.