Posted on 06 Aug 2007
Indonesian government licenses steel project worth USD 1.67 billion
ANTARA reported that Indonesia government has licensed 10 local and foreign companies to enable them to invest a total of USD 1.67 billion in upstream steel industry with a total capacity of 8.72 million tonnes.
The prospective investors include 5 from China, 2 from India and 2 Singapore and 3 domestic investors, data at the Investment Coordinating Board showed. BKPM licensed the investors to produce iron ore, iron pellet, and sponge iron and they are to start implementing their projects in 2011.
