Investment Updates News
- Chinese firm to invest in Indonesia's South Sulawesi
Date: 17-Jan-2007 Sources: (People's Daily)
China's Tianjin Material and Equipment Group Corporation will invest 90 billion rupiah (10 million U.S. dollars) in the metal mining sector in Indonesia's South Sulawesi province, an executive said Tuesday.
The Chinese industrial business group will exploit ore, copper and tin deposits in Tanatoraja and Luwu districts this year in cooperation with local firm PT Sangkaropi, the Chinese company's general manager for imports and exports Wang Gang said.
South Sulawesi Governor Amin Syam, responding to the Chinese company's investment plan, said his administration would speed up the process of issuing an environmental impact analysis permit and an investment recommendation to the company in a bid to create job opportunities for local people.
Wang, in return, expressed hope that the local administration would provide the company with reliable infrastructure, national news agency Antara reported.
The governor asked the Chinese investor to eye potential natural resources not only in Tanatoraja and Luwu districts but also in nearby Enrekang district which has abundant ore, copper and tin deposits.
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