Investment approvals decrease<\/p>\n
JAKARTA (JP): Total foreign investment commitments approved in
\nthe May-June period decreased to US$225.85 million from $1.78
\nbillion in the April-May period.<\/p>\n
The Investment Coordinating Board (BKPM) said in its latest
\nmonthly report that domestic investment commitments in the May-
\nJune period also decreased to Rp 3.05 trillion ($1.41 billion)
\nfrom Rp 4.85 trillion ($2.24 billion) in the previous monthly
\nperiod.<\/p>\n
The report explained that foreign investments approved by the
\ngovernment during the May-June period were committed for 15 new
\nprojects worth $125.16 million and for 17 expansion projects
\nworth $100.68 million.<\/p>\n
In comparison, during the April-May period, the government
\napproved 37 new foreign projects worth $697.51 million and 26
\nexpansion projects worth $1.12 billion.<\/p>\n
The report also noted that the domestic investment commitments
\napproved in the May-June period comprised 56 new projects valued
\nat Rp 1.95 trillion ($902 million) and 36 expansion projects
\nvalued at Rp 1.09 trillion. In the previous monthly period, the
\ngovernment approved 84 new domestic projects worth Rp 3.49
\ntrillion and 43 expansion projects worth Rp 1.35 trillion.<\/p>\n
Projects<\/p>\n
The report showed that the largest foreign investment
\ncommitment approved in the May-June period was made by PT Asa
\nPhil International, with $30 million to be invested in the
\nintegrated fish industry such as cold storage, fish canning and
\nfish flour production in North Sulawesi.<\/p>\n
The other new foreign investment projects include:<\/p>\n
. A $25 million garment plant in West Java committed by PT
\nGiordano Manufactures Indonesia.<\/p>\n
. Hotel and accommodation facilities worth $16.27 million in
\nEast and West Java committed by PT Hotel Graha Sanbass Corp.<\/p>\n
. A $9 million sawmill in North Sumatra committed by PT Koshi
\nBintika.<\/p>\n
The foreign expansion projects include:<\/p>\n
. A $25 million hydrogen peroxide plant in West Java owned by
\nPT Peroksida Indonesia Pratama.<\/p>\n
. A $24 million thread-mills plant in West Java owned by PT
\nElegant Textile Industry.<\/p>\n
. A $10.12 million chemistry plant in West Java owned by PT
\nPulo Synthetics.<\/p>\n
The new domestic investment projects include:<\/p>\n
. A Rp 571.73 billion portland cement factory in Central Java
\ncommitted by PT Himkonan Pertiwi.<\/p>\n
. A Rp 105.65 billion integrated palm oil plantation and
\nrefinery in Riau committed by PT Alam Sari Lestari.<\/p>\n
. A Rp 96.07 billion palm oil plantation and refinery in Jambi
\ncommitted by PT Tunjuk Langit Sejahtera.<\/p>\n
. A Rp 86.21 billion shopping center in Yogyakarta committed
\nby the board of directors of the Kusumajaya Cooperative.<\/p>\n
The domestic expansion projects include:<\/p>\n
. A Rp 191.16 billion telecommunications facility in Jakarta
\nowned by PT Bakrie Electronics Company.<\/p>\n
. Hotel and office building projects worth Rp 161.29 billion
\nin East Java owned by PT Singa Barong Kencana.<\/p>\n
. A Rp 126.74 billion textile factory in West Java owned by PT
\nMelvin International Synthetics.<\/p>\n
. A Rp 102 billion roof tile plant in West Java owned by PT
\nLantai Keramik Mas.<\/p>\n
Cancellation<\/p>\n
BKPM also announced that it had canceled licenses for six
\ndomestic investment projects, five of which would have been built
\nin West Java by PT Fimeco Perkasa Timber Industries (which
\noriginally planned to set up an aluminum foil plant), PT Graha
\nMitra Sentosa (an industrial estate), PT Djagat Kilat (coal
\nmining), PT Sanindo Primadaya (a textile plant) and PT Apindo
\nPrima Karya (a twistable plastic film plant). The other revoked
\nlicense was formerly given to PT Diamond Raya Timber, which
\nplanned to set up a logging and sawmill project in Riau. (yns)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/investment-approvals-decrease-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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