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Indonesian firm cancels Chinese loan for its Trump project

AP  |  Jakarta 

US President Donald Trump's son and his Indonesian business partner say a theme park that also features a Trump hotel and condos will no longer have Chinese financing.

Donald Trump Jr. said Tuesday at a conference in Jakarta that his father is not involved in Trump-branded resorts in West Java and Bali.

In a move that alarmed Trump critics, MNC Land, the Indonesian company that is developing the theme park owned by billionaire Hary Tanoesoedibjo, said in May that it has hired a subsidiary of Chinese state-owned Metallurgical Corporation to build the park at its Lido City development outside Jakarta.

Tanoesoedibjo said the Trump Organisation has nothing to do with the theme park and his company has canceled a Chinese bank's loan for the project.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 13 2019. 16:50 IST