Investor eyes ex-coal mining sites in East Kalimantan
Saturday, August 11 2001 - 02:58 AM WIB
A private investor called PT Monfori Nusantara has expressed interest to develop hundreds of hectares of ex-coal mining sites in the Tenggarong and Loa Janan districts in East Kalimantan to be transformed into hardwood teak plantation industry.
The local Kaltim Post daily said that the ex-coal mining sites had been generally abandoned.
The paper said that Monfori officials met with the Kutai regency administration to present its proposal.
Monfori said that 1 meter cubic of teak wood was current priced at more than Rp 3 million (US$1=Rp 9,100). The company said that in 15 years period, the teak plantation could already be harvested. The company said that the planned plantation industry would also benefit local farmers.(*)