Foreign investment grows four-fold between April-May<\/p>\n
JAKARTA (JP): Total foreign investment commitments, which
\ndeclined more than 80 percent in the March-April period to
\nUS$411.65 million, grew by more than four times to $1.78 billion
\nin the 16 April-May 15 period.<\/p>\n
The Investment Coordinating Board (BKPM) said in its latest
\nmonthly report yesterday that domestic approved investment
\ncommitments in the April-May period also increased to Rp 4.85
\ntrillion ($2.25 billion) from Rp 3.08 trillion ($1.43 billion) in
\nthe previous monthly period.<\/p>\n
The report explained that foreign investments approved by the
\ngovernment during the April-May period were committed for 37 new
\nprojects worth $697.51 million and for 26 expansion projects
\nworth $1.12 billion.<\/p>\n
In comparison, during the March-April period, the government
\napproved 30 new projects worth $300.25 million and 14 expansion
\nprojects worth $111.40 million.<\/p>\n
Yesterday's report also noted that the domestic investment
\ncommitments approved in the April-May period comprised 84 new
\nprojects valued at Rp 3.49 trillion and 43 expansion projects
\nvalued at Rp 1.35 trillion. In the previous period, the
\ngovernment approved 44 new projects worth Rp 2.27 trillion and 13
\nexpansion projects worth Rp 809.36 billion.<\/p>\n
Projects<\/p>\n
The report showed that the largest foreign investment
\ncommitment approved in the April-May was made by PT Led Borneo
\nCement, which will invest $440.13 million for a cement plant in
\nSouth Kalimantan.<\/p>\n
The other new foreign projects include:<\/p>\n
* A $59.5 million office building construction and management
\nproject owned by PT Batavia City Realty in Jakarta.<\/p>\n
* A $38.87 million hotel project in Irian Jaya owned by PT
\nAlatief Freeport Hotel Corp.<\/p>\n
* A $20 million cottage resort project in Bali owned by PT
\nBali Permai International.<\/p>\n
The foreign expansion projects include:<\/p>\n
* A $738.97 million industrial paper plant in Riau owned by PT
\nIndah Kiat Pulp and Paper.<\/p>\n
* A $100 million viscose and sulfuric acid plant in West Java
\nowned by PT South Pacific Viscose.<\/p>\n
The new domestic investments include:<\/p>\n
* A Rp 454.1 billion polyester filament and textile plant in
\nWest Java owned by PT Tresna Tara Sekawan.<\/p>\n
* A Rp 496.62 billion ferrous and non-ferrous forging plant in
\nWest Java owned by PT Perkasa Indobaja.<\/p>\n
* A Rp 258.5 billion domestic and international shipping
\ncompany in Bali and to operate throughout Indonesia owned by PT
\nTrans Indo Pacific.<\/p>\n
* A Rp 229.52 billion machinery components plant in West Java
\nowned by PT Perkasa Heavindo Engineering.<\/p>\n
* A Rp 85.16 billion coconut oil plant in Jakarta owned by PT
\nHumpus Graha Nabati.<\/p>\n
The domestic expansion projects include:<\/p>\n
* A Rp 276.7 billion industrial pulp plant in East Java owned
\nby PT Kertas Basuki Rachmad.<\/p>\n
* A Rp 204.5 billion building ceramic plant in West Java owned
\nby PT Mulia Keramik Indah Jaya.<\/p>\n
Cancellation<\/p>\n
BKPM also announced yesterday that it had canceled two
\ndomestic investment projects, including a flour and macaroni
\nplant in Jakarta, West Java and East Java owned by Bogasari Flour
\nMills Timber Industries and a cacao and hybrid plantation in
\nLampung owned by PT Taru Prakarti.<\/p>\n
The report also specified that the licenses for three foreign
\nprojects have been canceled. They were an umbrella manufacturing
\nplant in Jakarta owned by PT Ever Glory Umbrella, a razor
\nmanufacturing plant in West Java owned by PT Gillette Indonesia
\nand an electronics components plant in West Java owned by PT
\nHyundai Bestronik. (icn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/foreign-investment-grows-four-fold-between-april-may-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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