JAKARTA, July 17 (Reuters) - Indonesia's state-owned enterprises ministry said on Wednesday it had signed a preliminary agreement with United Arab Emirates-based property firm Eagle Hills to develop tourism infrastructure in the Southeast Asian country.
The Memorandum of Understanding (MoU) was worth up to $3 billion and covers development of hotels, airports and tourism destinations, the ministry said in a statement issued during the visit of President Joko Widodo to the UAE.
The statement included comments on the agreement from Eagle Hills. It did not provide a breakdown of the projects or their value, nor a timeline for the investment plan.
"The MoU lasts for a year with a possibility to extend it through joint agreement," Indonesian SOE minister Erick Thohir said in the statement.
"There is no time period set for the $3 billion investment, giving flexibility on the implementation."
Eagle Hills did not immediately respond to a request for confirmation and further details of the agreement. (Reporting by Stefanno Sulaiman and Ananda Teresia; Editing by Martin Petty)
