JAKARTA, March 2 (Reuters) - A United Arab Emirates' fund signed a memorandum of understanding on Monday with an Indonesian provinicial government on developing a 125 km (80 mile) rail link and jetty for coal transportation in East Kalimantan.<\/p>\n
The Ras Al Khaimah Minerals & Metals Investment fund is targeting a rail link with a capacity to transport 60 million tonnes of coal a year over the next 10-15 years in East Kutai regency in East Kalimantan on Borneo island, it said in a statement.<\/p>\n
Aside from the railway, it also plans to build a coal jetty.<\/p>\n
"We will work with various mine owners for the transportation of coal and welcome partnership," Madhu Koneru, managing director of RMMI, said in the statement.<\/p>\n
The agreement was signed by Khater Massaad, chief executive of the RAK Investment Authority, and Awang Faroek Ishak, East Kalimantan governor, at an Islamic economic forum in Jakarta.<\/p>\n
Coal production in East Kalimantan accounts for about 57 percent of Indonesia's total coal output which is expected to reach 230 million tonnes.<\/p>\n
Indonesia is the world's top exporter of thermal coal.<\/p>\n
RMMI did not give financial details on the planned project but said it aimed to increase mining capacity to 30 million tonnes per year by 2020 through the project.<\/p>\n
The Bisnis Indonesia newspaper last month quoted the East Kalimantan governor as putting the cost of the project at $600 million.<\/p>\n
(Reporting by Olivia Rondonuwu, Writing by Fitri Wulandari; Editing by Ed Davies)<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/uae-fund-plans-indonesia-coal-rail-link-1236053220", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }