East Kutai to withdraw contract of 14 coal mining firms

The East Kutai administration in East Kalimantan threatened to withdraw the mining contract of 14 coal mining firms which have not implemented any activity since the contract was issued, the local Kaltim Post daily reported Friday.

The paper quoted East Kutai Regent Awang Faroek as saying that the administration would offer the contract to other investors who were serious of investing in the area.

?We?ll give opportunity to other investors who are really serious in exploiting our natural resources,? Awang said.

He declined to name the 14 coal firms.

Elsewhere, Awang said that several overseas investors had expressed interest to invest in various sectors in the regency. He said that the latest investor to have expressed interest was Thai Development Public Company Limited, which planned to invest in various fields including coal mining.(*)