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Jakarta Post

Coal, aluminum firms to invest $4.76 billion in East Kutai

Jakarta   /   Thu, July 12 2012   /  08:01 am

Two foreign firms plan to develop projects worth Rp 45 trillion (US$4.76 billion) in East Kalimantan, the province’s top official says.

The projects will be funded by Rhas Al Khaima, a United Arab Emirates-based coal mining company, and National Aluminium Co. (Nalco), an Indian-based manufacturer and distributor of aluminum products, East Kalimantan Governor Awang Faroek said in a telephone interview recently.

“The projects will cover constructions of a railroad, a coal terminal, a steam power plant and a smelter. All of these will be built in East Kutai regency,” Awang said.

The governor said that he had signed separate memorandums of understanding (MoU) with the companies on the projects.

The first agreement was signed by Awang and a representative of Ras Al Khaima during the 2009 World Islamic Economic Forum in Jakarta.

The second deal, with N...