Reuters reported that the United Arab Emirates plans to invest USD 9.5 billion in aluminum smelters in Indonesia's Kalimantan region.

Mr M Wahid Supriyadi Indonesia's ambassador to the UAE said that "Emirates Aluminum will invest USD 4 billion in West Kalimantan to build an aluminum smelter and a power plant. Ras Al Khaima Investment Authority will invest USD 5.5 billion in East Kalimantan to build an aluminum smelter, a power plant and a railway line related to the projects."

Earlier this month, Indonesia's trade minister said India's state run National Aluminum Company Limited will invest USD 4 billion in an aluminum smelter and power plant in Indonesia's East Kalimantan province.

(Sourced from Reuters)