$1.3b in aid for industrial projects

$1.3b in aid for industrial projects

JAKARTA (JP): The Ministry of Industry will receive US$1.3
billion in technical assistance and grants from foreign creditors
for 26 industrial projects next fiscal year.

Minister of Industry Tunky Ariwibowo said in a hearing with
Commission VI of the House of Representatives yesterday that
almost half of the funds will be used to finance the construction
of fertilizer, cement and textile plants.

He explained that PT Pupuk Iskandar Muda will get $203 million
to develop its second urea production unit, PT Pupuk Kujang
US$180 million to replace an urea production unit and PT Pupuk
Kaltim US$20 million to optimize its urea production capacity.

The renovation of the spinning mills of PT Industri Sandang I
will get $52 million and the expansion of PT Industri Sandang
II's textile factory $44 million.

The construction of a steam power plant at PT Semen Padang, a
cement company in West Sumatra, will receive a grant of $66
million, he noted. (rid)