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Pack to is to invest $2 billion in Indonesia as it is in the use of funds from SoftBank

A FILE PHOTO of A Suit, a taxi drives on a street in Hanoi, Vietnam on October 29, 2018. REUTERS/Kham

JAKARTA (Xinhua) – South-east-Asian-ride-hailing firm Grasp on Monday said it will invest $2 billion in Indonesia over five years, the utilization of cash received from a Japanese technology investor SoftBank Group Corp. (a).

The investment will also go toward the creation of a next-generation transport network, and the transformation of the importance of the services provided, such as health care, are provided for Grasping said in a statement.

“SoftBank will be investing more than US$2 billion in the country by the means of Intervening, in order for the digitization of key services and infrastructure,” says a Singapore-based intervention.

It is said that it will take the investment of close to $3 billion in capital raised and a total of SoftBank.

On Monday, SoftBank’s Chief Executive Masayoshi Son told reporters that his company is investing $ 2 billion in response. He wasn’t sure if he was referring to a verse of money, or of money, previously announced.

SoftBank will also help you in realizing the construction of a new office in the Indonesian capital of Jakarta, the Son said.

In March, they turned in to almost a $1.5 billion, driven by the Vision of the Fund, as the South east Asian business has expanded from a collection of current, since the acquisition of the South-east Asian operations of its U.S. arch-rival Uber Technologies Inc. in the previous year.

Suit, could not immediately be reached for comment on Monday. In a statement, said it has invested more than $1 billion in Indonesia since march of 2017.

Reporting Agustinus Beo Da Costa; Writing by Kanupriya Kapoor; Additional reporting by Aradhana Aravindan and Anshuman Daga; Editing by Christopher Cushing

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