Five Chinese companies to invest in North Kalimantan Province

Five Chinese companies to invest in North Kalimantan Province

North Kalimantan Governor Irianto Lambrie. (ANTARA)

Nunukan, N Kalimantan (ANTARA News) - A total of five Chinese companies have signed several memoranda of understanding with the Indonesian government and will immediately invest in several fields in North Kalimantan Province.

The statement was made by North Kalimantan Governor Irianto Lambrie in Tanjung Selor on Wednesday in response to the realization of a recent meeting in Beijing, China, under the coordination of Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan.

Lambrie noted in a written message that the value of investment amounted to tens of billions of US dollars. The areas of investment include electricity, smelting industry, and infrastructure development.

He expects the investment to be realized smoothly and quickly.

Under the cooperation agreements, PT Indonesia Dafeng Heshun Energy Industri is cooperating with China Gezhouba Group International Engineering Co. Ltd for the construction of a hydroelectric power plant of Sungai Kayan, with an investment value of US$10 billion.

PT Adhidaya Suprakencana is cooperating with China Gezhouba Group International Engineering Co. Ltd for the development of an industrial area and international port of Bulungan District, with an investment value of $10 billion.

PT Dragon Land established cooperation with East China Engineering Science and Technology Co. Ltd for the construction of a dimethyl ether processing plant by converting coal into two million tons of gas per year in the industrial area and international port of Tanah Kuning. The investment value for the cooperation reaches $700 million.

PT Kayan Hydro Energy is cooperating with Sinchydro Corporation Ltd-Joint Venture for the construction of the Sungai Kayan hydropower plant in Bulungan District, with an investment value of $17.8 billion.

Furthermore, PT Prime Steel Indonesia is cooperating with Metallurgical Corporation of China Ltd to develop a steel smelting industry, with an investment value of $1.2 billion.

Reported by M Rusman
M052/INE
(T.M052/A/KR-BSR/F001)

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