Vale plans to increase investment by $2 billion
Thursday, April 4 2013 - 05:54 AM WIB
IDX-listed PT Vale Indonesia Tbk said that it would add investment reaching US$2 billion for the company's mine operations in Sorowako, Luwu Timur regency of South Sulawesi province, and in Bahodopi, Morowali regency of the Central Sulawesi province.
The investment is part of the company's commitment to continue doing business in Indonesia as medium and long term targets.
Basrie Kamba, External Relations and Corporate Affairs Director of PT Vale Indonesia, at the opening of Indogreen Forestry Expo 2013 in Jakarta on Thursday said that the investment would also aim at opening employment opportunities, improving the economy and standard of living of people in areas surrounding the company's operations.
According to him, the plan has not been implemented as the ongoing renegotiation of contract of work has not been completed.
Editing by Adianto P. Simamora