Mitsubishi and a French firm to invest $6 billion in smelter in Indonesia

By Bambang Atmaja

Japan-based Mitsubishi and a French firm plan to invest US$6 billion to build a smelter of nickle ores in Halmahera in North Maluku, Industry Minister MS Hidayat said.

He said that Mitsubishi would put $2 billion on the project that will kick off next year. The minister did not elaborate on the name of the French firm, just saying that top leaders of the Japanese firm and the French firm top officials had met with President Susilo Bambang Yudhoyono in Balikpapan, East Kalimantan, on Tuesday to convey their business plan.

"Days ago Mitsubishi group CEO along with the the French firm top officials met with the President in Balikpapan. He officially delivered a plan to invest in nickle ores smelter," Hidayat told Petromindo.com at the State Palace. "It (Mitsubishi) joins force with a French firm. It may invest $2 billion in the project that will start next year." he said.

Editing by Adianto P. Simamora