US group General Electric plans to invest in East Timor

5 September 2013

US group General Electric plans to invest in East Timor (Timor-Leste), the country’s minister for Public Works, Gastão de Sousa said Tuesday as he welcomed a delegation headed up by the head of the Association of South-East Asian Nations (ASEAN), Kristin Paulson.

According to a statement, Paulson reminded Gastão de Sousa of the US group’s presence in ASEAN nations such as Malaysia, Singapore, Cambodia and Myanmar.

Minister de Sousa noted the importance of the US group wanting to be involved in the development of East Timor and mentioned the Tasi Mane project, which is intended to develop the country’s south coast via the oil industry and includes construction of three industrial groups, which will be the backbone of the sector in the country.

Tasi Mane includes the Suai supply base, the refinery and a group of petrochemical industries in Betano as well as a gas unit (supplied by the gas pipeline that the Timorese authorities want to build from the Greater Sunrise field) in Viqueque/Beasu.

The special economic zones, which will be established in areas close to ports and airports, parts of the south coast and the city of Dili, are intended to attract the financial sector including banks, insurance companies and professional services companies. (macauhub)