Thiess Contractors invests about US$20 million this year
Wednesday, September 18 2002 - 04:09 AM WIB
Australian mining contractor, Thiess Contractors Indonesia (TCI), has allocated about US$20 million from the company?s budget this year to finance mining projects in Indonesia, particularly in Sumatra and Papua, Bisnis Indonesia reported on Wednesday.
TCI?s president Bruce Munro said in Balikpapan on Tuesday that the Australian company had yet to make a significant increase in its investment in Indonesia because the recovery of the country?s economy remained uncertain.
"We think it is not the right time to make additional investment. The existing investment will be used to finance ongoing projects," he told reporters after the inauguration of the company?s training facilities in Balikpapan, which was also attended by Australian Ambassador to Indonesia Richard Smith.
Munro said that TCI had so far invested about $120 million for its Indonesian projects. (*)