Inco paid $140 million to government in 2004

Publicly-listed nickel producer PT International Nickel Indonesia (Inco) paid around US$140 million (Rp 1.3 trillion) to the government in 2004 in both taxes and non-taxes, the Investor Daily Indonesia newspaper reported in its Friday edition.

This amount is far higher than the $64.8 million per year the company paid during the period of 1999-2003.

PT Inco, which operates from Sorowako, East Luwu regency in South Sulawesi, is planning to increase its nickel matte production capacity in 2005 by 30 percent or from 150 million pounds to 200 million pounds or around 90,000 tons per year.

In order to increase the production, Inco needs $250 million investment. (*)