BICC expands projects<\/p>\n
LONDON (Reuter): BICC Plc said it was expanding its
\ncablemaking business in the Asia-Pacific region through the
\ncreation of two new manufacturing operations.<\/p>\n
One project in Indonesia will have a total cost of 45 million
\npounds while another in the Philippines will see investment from
\nBICC of 10 million pounds, the company said in a statement.<\/p>\n
In Indonesia, BICC is setting up a joint venture, BICC Berca
\nCables, with local partner PT Cipta Cakra Murdaya (CCM) to make
\npower and telecommunications cables at a plant near Jakarta.<\/p>\n
The total cost of this project will be 45 million pounds, BICC
\nsaid and it will take a 50 percent equity interest of 11 million
\npounds.<\/p>\n
The balance of the project funding will be provided by equity
\nfrom the partner and local project finance.<\/p>\n
The factory should be completed and onstream in early 1997.<\/p>\n
In the Philippines, BICC said a regional data cable systems
\nbusiness will be set up based on a new plant at Subic Bay.<\/p>\n
This plant should come onstream in 1997, the company said.<\/p>\n
BICC will invest 10 million pounds in the business and will
\nown it outright.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bicc-expands-projects-1447893297",
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