Mitsubishi to spend $20 billion for RI business expansion
Thursday, March 3 2011 - 03:22 AM WIB
Japan?s business conglomerate PT Mitsubishi International plans to further invest between US$18 billion and $20 billion to expand its business in Indonesia within the next five to 10 years, Investment Coordinating Board (BKPM) chairman Gita Wirjawan said.
?Their total investment could reach between $18 to $20 billion in five to 10 years,? Gita told reporters following a meeting between the Japanese company?s chairman Mitsubishi Kobayashi with President Susilo Bambang Yudhoyono on Wednesday.
Gita said that the company?s business expansion would include the planned development of the Donggi Senoro LNG plant in Sulawesi, the Weda Bay ferronickel mining project in Halmahera and its power plant as well as their automotive business in the country.
Gita said that the investment plan for the development of the Weda Bay ferronickel project would be begun within the next three to four years, he added. (bernard)