The Jakarta Post
One company has received a principle license for foreign investment from the Investment Coordinating Board (BKPM) to open a factory in the Special Economic Zone (KEK) in Palu, Central Sulawesi.
The president director of Bangun Palu Sulteng Ltd, which manages the KEK, confirmed that Sofi Agro Industries Ltd would invest in the Palu KEK.
“The company is ready to build a factory. It has three years to finish the construction,” president director Andi Mulhanan Tombolotutu told The Jakarta Post on Tuesday, adding that the company needed to obtain a license from the BKPM because half of it shares were owned by foreigners.
(Read also: Ten companies to invest in KEK Palu)
The principle license was obtained on Jan. 18 and the company is expected to produce 3,000 tons of coconut shell briquettes per year.
“About 90 percent of the products will be exported,” Andi said.
The company also plans to produce 1,800 tons of copra per year, 80 percent of which will be exported, and 2,000 tons of coconut oil per year, 70 percent of which will be exported. It will also produce 1,500 tons of desiccated coconut and 800 tons of coconut essence per year.
“The factory will be built on a 19,815-square-meter plot of land and will employ 625 local workers,” he added.
Two other companies will be issued principle licenses soon, one of which is Aspal Buton (Asbuton) Ltd, he added. (ecn/bbn)