Tue, 23 Sep 2008
The number of foreign projects in Batam approved by the Investment Coordinating Board (BKPM) from January to August this year rose 18% to 54 from 34 in the same period last year, Asia Pulse reported.

The 54 projects are worth $65.934 million, while 15 more projects to expand existing operations are valued at $179.310 million, the Batam Authority's chief of marketing and public relations, Rustam Hutapea, said on Friday.

In August, the BKPM approved foreign applications for nine new projects worth $7.280 million and four extension projects valued at $5.565 million.

During the month the BKPM approved one domestic investment application valued at Rp500 billion ($54 million), bringing the number of domestic investment projects approved from January to August to four with a total investment of Rp16.614 billion.



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