Qatar fund targets natural resources in Indonesia

AP News

12/8/2011 6:53:01 AM - AP News

Qatar's main government investment fund says that it is setting up a subsidiary in Indonesia targeting raw materials in the world's largest Muslim nation.

Qatar Holding said in a Thursday statement that the subsidiary, QH Indonesia, will initially have $1 billion to invest.

It says the Jakarta-based division will mainly focus on investments in Indonesian commodities and natural resources, but will also consider other sectors.

Qatar Holding is the main investment vehicle of the natural gas-rich Gulf nation's sovereign wealth fund. It is heavily invested in European companies, including Barclays, Credit Suisse and Volkswagen.

Indonesia has significant deposits of oil and gas, coal, copper and gold. It is also a major exporter of palm oil, lumber and rubber.