Tue, 20 Sep 1994

$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)