Jakarta (ANTARA News) - Chief economic minister Boediono said Indonesia had to achieve an inflation rate of between three and four percent in the medium term in order to create better economic conditions. "We will keep striving to lower the inflation rate in the medium term to three or four percent. We will continue to work hard to achieve this goal. We have an inflation targeting framework in the monetary sector but we should adjust it to our conditions," Boediono told reporters here on Friday.

Jakarta (ANTARA News) - PT Indonesia Power has invested US$100 million to optimize the operation of three hydropower plants (PLTA) managed by Perum Jasa Tirta II in Purwakarta, West Java, a spokesman said. "The cost of the program at the three PLTAs is estimated at US$100 million," president director of PT Indonesia Power Tonny Agus Mulyantono said here Friday. The project was expected to increase the power plants` combined capacity to 700 GWh from 500 GWh at present.

The Indonesian Drinking Water Association (Perpamsi), which groups together hundreds of heavily indebted state tapwater firms (PDAMs), is drafting a standardized business plan to help restructure their debts. With most debts owed to the Finance Ministry, the State Development Finance Controller (BPKP) is also taking part in the drafting process, Perpamsi chairman Achmad Marju Qodari said Thursday.

Fiber optic network provider PT Power Telecom has started the second phase of a project spanning Java that will help increase Internet and telecommunication subscribers, an official says. The project consists of an 833 kilometer high-speed connection linking Jakarta and Surabaya, which will compliment a 500 kilometer network installment in Greater Jakarta and Bandung, West Java, expected to be completed next month.

A delegation of 174 business players from China met Indonesian counterparts Thursday to discuss Indonesia's potential for investment and business cooperation. The delegation, the biggest in number from China so far, included representatives from five sectors: Mining and energy; small to medium scale enterprises; agricultural and chemicals; infrastructure and automotive and electronics. "Indonesia has the biggest market opportunity among ASEAN countries.

State oil and gas company PT Pertamina plans to buy 40,000 tons of liquefied petroleum gas (LPG) from ConocoPhilips for US$32 million to secure its May supply, which has been disrupted by a glitch at its Balongan refinery in West Java. Director for marketing and trading Ahmad Faisal said Thursday the purchase was needed as current supply would only last for up to three days after a unit in the refinery last week went off-line for repairs.

Aditya Suharmoko, The Jakarta Post, Jakarta The Finance Ministry has prematurely reduced import duties on raw materials to help domestic industries compete with rival products from overseas. The Ministry's head of fiscal policy (BKF), Anggito Abimanyu, said Thursday the reduction applied to duties on 14 raw materials used in the manufacturing of film and camera products. The raw materials are currently subject to import duties of between 10 and 40 percent.

A delegation of 174 businessmen from China has met Indonesian counterparts recently to discuss Indonesia's potential for investment and business cooperation, local press said Friday. The delegation, the biggest in number from China so far, included representatives from five sectors: Mining and energy; small to medium scale enterprises; agricultural and chemicals; infrastructure and automotive and electronics.

The government is seeking offers for the construction of a railway linking Jakarta with the Soekarno-Hatta International Airport in Cengkareng, Banten, after the previous winner failed to start construction, an official said Friday. "As decided at a coordinating meeting at the vice presidential office, the Transportation Ministry will repeat the bidding process," said state minister for state entrprises deputy for tourism and logistics Harry Susetyo.

Publicly listed PT Wijaya Karya (Wika), a state-owned construction and engineering company, projected a 42 percent increase in net sales revenues to Rp 6.1 trillion (US$655 million) this year on the back of booming construction, procurement and engineering work. The company said after its annual shareholders meeting Thursday it had won new job contracts for the construction of four power plants in S. Kalimantan, West Java, Jakarta and North Sulawesi as well as several building projects.