30/05/2012 (Jakarta Post) - One of Indonesia’s leading conglomerates, the Bakrie Group, is planning to invest up to US$1 billion in Nigeria within the next five years through a joint venture company formed with British-Nigerian entrepreneur Ladi Delano.

The joint venture company, Bakrie Delano Africa Ltd, is planning to work in three sectors in Nigeria: oil and gas, palm oil and mining.

Delano, who is cited as the company's CEO, said that Nigeria could be a gateway for the Bakrie-Delano partnership to further explore African resources throughout the continent.

"We have chosen the Bakrie Group due to its competence," Delano said as quoted by tempo.co.

The Bakrie group is controlled by the family of Aburizal Bakrie, the Golkar Party chairman who is now preparing to run for the presidency in 2014.