Jakarta: Indonesia has cleared obstacles to foreign investment in a private coal railway in East Kalimantan province, part of a $5bn infrastructure project, an official said yesterday.<\/p>\n
Dubai-based Trimex Group\u2019s MEC Holdings and the Gulf emirate of Ras Al Khaimah are joining forces to build the 130-km (80.77-mile) railway at a cost of a billion dollars, MEC said in a statement.<\/p>\n
The railway from the Muara Wahau coal mine to Bengalon on the East Kalimantan coast is key to plans for a five-billion-dollar integrated development including a new port, power plant and aluminium smelter.<\/p>\n
Indonesia Investment Coordinating Board deputy chairman Luky Eko Wuryanto said he hoped the project would encourage more foreign investment in line with the government\u2019s vow to cut red tape and regulatory bottlenecks.<\/p>\n
\u201cWe need more investment in the infrastructure sector, especially outside densely populated Java island,\u201d he said.<\/p>\n
Indonesian President Susilo Bambang Yudhoyono was quoted in the MEC statement as saying the project would \u201ccreate multiple benefits to the development of the local economy in East Kalimantan.\u201d<\/p>\n
\u201cIt sets a positive tone for future investments from the Middle East,\u201d he added.<\/p>\n
The deputy ruler of Ras al-Khaimah, Crown Prince HH Sheikh Saud Bin Saqr Al Qasimi, said the railway would also help to \u201cmeet the energy challenges in Asia, particularly India and China.\u201d \u201cThis type of public-private, Middle Eastern-Indonesian initiative is a fantastic example of what can be accomplished when the fundamentals make sense for all parties involved,\u201d he said.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/indonesia-clears-way-for-private-rail-project-1261186806", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }