S.Korea firm plans to invest on heavy equipment

By Bambang Atmaja

Industry Minister MS Hidayat said on Friday that South Korea-based firm, Doosan planned to invest around $US1 billion to produce heavy machinery equipments including for operational at mines, in Indonesia.

Hidayat said that the company preferred building the factory near the mining area seeing the growing mining sector in Indonesia.

"Doosan wants to produce heavy machinery equipments. Their planned investment would be around $US1 billion," he told Petromindo.com at the State Palace.

Chairman of Coordinating Investment Board Chatib Basri earlier told Petromindo.com that he was optimistic that Doosan investment would be approved.

Both Hidayat and Chatib have met with Doosan representatives to discuss the plan.

Editing by Adianto P. Simamora