Chinese investor to invest in N. Sulawesi iron ore mine
Saturday, May 17 2014 - 04:11 AM WIB
A local company PT Mikgro Metal Perdana and its Chinese partner plan to invest Rp 17 trillion to develop an iron ore mine and a processing facility on Bangka Island, North Minahasa Regency, North Sulawesi, Media Indonesia reported on Saturday.
The paper quoted North Sulawesi Governor Sinyo H. Sarundajang as appealing to the local people to support the investment plan as it would benefit the local economy. PT Mikgro has to acquire land to realize the investment plan.
Sinyo said that the iron ore deposits to be extracted by the company would not be exported, but process them locally into value added products, providing greater benefit to the local people. He pointed out that a steel company will be developed in the area.
The report did not provide the identity of the Chinese investor and details of the iron ore mine. (*)