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Government mulls adding 11 new projects to national strategic list

first_imgIndonesia has been refocusing its state spending to fund the fight against the COVID-19 pandemic with a cash-strapped budget. The government has allocated Rp 405 trillion (US$25.79 billion) of funding for the pandemic budget, causing state spending to increase by nearly 3 percent to Rp 2.6 quadrillion while revenue is expected to slump by 21 percent to Rp 1.7 quadrillion.Luhut expected the privately funded projects could continue their development and absorb workers while contributing to the country’s foreign exchange reserves.A project included in the PSN list will be granted an easier licensing process and accelerated land procurement, as well as government guarantees on any political risks.Septian Hario Seto, the Office of the Coordinating Maritime Affairs and Investment Minister’s acting deputy head for investment coordination and mining, said that two of the proposed 11 new projects were an industrial zone and an industrial park. The Obi Island Industrial Zone in South Halmahera regency, North Maluku, he said, had almost 2,000 workers and it already had a phase-two rotary kiln-electric furnace (RKEF) smelter for ferronickel production with an estimated investment of $800 million.“The significant development [in the industrial zone] will be the high-pressure acid leaching [HPAL] smelter construction, which will be completed in the third quarter of 2020,” he said, adding that the investment for the smelter was estimated at $1 billion.The HPAL smelter produces material for lithium batteries, cobalt sulfate and nickel sulfate.Septian went on to say that the second suggested project for the PSN was the Weda Bay Industrial Park project, where a smelter operation was halted due to the coronavirus outbreak. The plan for its 2020 investment was around $4 billion to $5 billion while exports were estimated to reach at least $2 billion by 2024.The other nine projects are six smelter projects, one coal-to-methane processing area in East Kalimantan, a methane industrial area and the construction of the Kediri-Tulungagung toll road in East Java.“The projects’ investors are being financially evaluated to make sure they can finish the projects by 2024 and be included in the PSN,” he said.Coordinating Economic Minister Airlangga Hartarto said there were currently 232 new project proposals to be included in the PSN, 84 of which were proposed by ministries, 123 projects by regional governments and 17 by state and regional-owned enterprises (BUMN/D) and eight projects by private sector investors.At the same time, the government has scrapped 10 projects from the PSN list as their estimated completion times are beyond 2024, the year when President Joko “Jokowi” Widodo’s second term will end. (eyc)Topics : The government has been assessing 11 new infrastructure projects to be included in the National Strategic Projects (PSN) in a bid to attract investment and create jobs.”I had a discussion with the coordinating economic minister as we want to assess which projects [in the PSN] can be funded by the private sector, so that we won’t just rely on the state budget,” Coordinating Maritime and Investment Minister Luhut Pandjaitan told a webstreamed coordination meeting on Wednesday, as quoted in the statement. His office did not elaborate on projects that might need to be scrapped.“Hopefully we can move fast given the current situation caused by the pandemic,” he said.last_img read more

Ireland head to Georgia

first_imgThe Republic of Ireland fly out to Tbilisi today, as the countdown continues to the crucial World Cup qualifier against Georgia.It is hoped that Jonathan Walters will return to full-training after easing his way back from an ankle injury.The medical team will also assess John O’Shea’s calf problem.last_img

European Lotteries and NASPL to discuss sports betting synergies at Betting on Sports America

first_img SBC news network grows with Lottery Daily launch April 23, 2020 Submit Share Share Members of the European Lotteries trade organisation have invited their counterparts in the US to their panels at Betting on Sports America to discuss their experience of the synergies between the traditional lottery product and sports betting.The Joint Working Group is set to attract a number of the state lotteries and will be held during the Betting on Sports America conference on 23-25 April 2019 at Meadowlands Exposition Center in New Jersey, which is being organised by sports betting specialists SBC (Sports Betting Community).With individual American states now able to legislate for sports betting after the Professional and Amateur Sports Protection Act (PASPA) was deemed unconstitutional by the Supreme Court in May 2018, state lotteries have been exploring what this means for their position in the gambling landscape.While some state lotteries have been tasked with running the sports betting operation, such as in Washington DC, other state legislatures have taken a different approach. However, given the confusion caused by the re-interpretation of the Wire Act, which has left some lotteries questioning their ability to take business online, now is a vital time to explore the potential ways in which lotteries and sports betting can work in tandem.Jari Vahanen of European Lotteries Sport Working Group commented: “Sports betting is obviously a new challenge for our colleagues in the US lottery business, so the members of European Lotteries are coming over to Betting on Sports America in order that we can share our experiences with them. “Given the early stage of development for sports betting in most parts of the US, now is the perfect time for us to discuss the matter and Betting on Sports America provides an ideal opportunity.”May Scheve, Executive Director of the Missouri Lottery and former NASPL President, said: “Sports betting is a new challenge for lotteries given that it is largely an unknown quantity at the moment. Betting on Sports America provides a perfect opportunity for lottery operators to discover more about sports betting and find out how our European counterparts work best with sports betting.”SBC Managing Director Andrew McCarron added: “We work closely with the European Lotteries at our events in London, so when the chance came for us to offer them a forum at Betting on Sports America with which to connect with their US counterparts, we were happy to oblige. “We are designing Betting on Sports America to be the ideal event for all existing and potential stakeholders in the US sports betting industry and given the key role that lotteries already play in each state, we are pleased to welcome them to join discussions.”Betting on Sports America, held from 23-25 April in New Jersey, is the largest dedicated sports betting conference & exhibition in the US. The conference boasts 175 leading industry speakers across 40 sessions, with 60 exhibitors displaying their latest products on the 61,000 sq ft exhibition floor at the Meadowlands Exposition Center. Delegates will be treated to world class hospitality with plenty of business and networking opportunities in New Jersey (Meadowlands Racetrack) and New York (40/40 Club and Sky Room Rooftop Bar). For more information about the event, please visit the website HERE. FES and Incentive Games launch esports prediction game June 2, 2020 Related Articles Playtech eyes US acceleration following NJ approval June 1, 2020 StumbleUponlast_img read more