"As a commitment Mirae Energy has deposited US$200,000."Banda Aceh (ANTARA News) - Mirae Energy Co.Ltd. of South Korea plans to invest US$12.5 million in the Sabang free port and trade zone in Aceh province, an official has said.
"As a commitment Mirae Energy has deposited US$200,000," head of the Sabang Zone Development Agency (BPKS)," Maksalmina, said here on Thursday.
A Korean delegation led by Mirae Energy president director Han Seung Sik has met with Aceh governor Zaini Abdullah on October with regard to the plan.
Maksalmina said BPKS would hold 48 percent of stake in the project while the US$200,000 deposit would be used for preparing the construction of a plant, rest and procurement of office equipment.
The plant that Mirae Energy will establish is expected to operate in 2013 with an initial production target worth US$10 million.
The prime product of the company would be solar cell which is the main component of solar-powered electricity plants.
"We are optimistic about the future of the investment because in the future electricity energy source in our country will be oriented to solar power," he said.
Governor Zaini Abdullah meanwhile said he welcomed the plan and had expressed joy to hear about Mirae Energy`s commitment to conduct transfer of technology in the first year of operation.
"I hailed the good will of Mirae Energy and hoped the technology transfer would really be realized. Study all the clauses in the Memorandum of Understanding. I will also ask every policy to be made to be consulted with the governor," he said.
(T.A042/H-YH/KR-BSR/A014)
Editor: Priyambodo RH
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