$2.86b megaprojects for C. Java

$2.86b megaprojects for C. Java

JAKARTA (JP): Several huge projects with a combined investment
worth more than Rp 6.8 trillion (US$2.86 billion) are scheduled
to begin in Central Java province this year, chief of the
provincial office of the Investment Coordinating Board Soedarsono
said.

Soedarsono said the megaprojects included foreign investment
ventures PT Consolidated Electric Power Asia (CEPA) Indonesia, PT
Mitra Global Telekomunikasi Indonesia and national private
investment companies PT Semen Gombong and PT Semen Grobogan.

PT CEPA Indonesia is to build a 1,300 megawatt power plant in
Jepara with an investment of Rp 4.2 trillion. PT Semen Gombong
will build a cement plant with an investment of Rp 586 billion
along with PT Semen Grobogan with an investment of Rp 630
billion. PT Mitra Global Telekomunikasi Indonesia is installing
400,000 telephone lines, with an investment of Rp 1.3 trillion.

In addition, PT Semen Hall Jateng is also laying the
groundwork for the construction of a cement plant in Pati
regency, with an estimated investment of Rp 1.5 trillion.

The company, jointly owned by Indonesian and Korean companies,
is waiting for an investment license from the government.

He said the Central Java provincial government needed a total
investment of Rp 64.10 trillion in the current Sixth Five-Year
Development Plan to maintain the province's economic growth of 7
percent a year.

He said of the total investment, around 24.4 percent or Rp
15.64 trillion would be derived from the government and the
remaining 75.6 percent or Rp 48.46 trillion from the private
sector.

He said the big projects were expected to be realized soon
because the province had already been equipped with quality
infrastructure facilities, good human and natural resources and
quick licensing permit procedures.

"We promise to produce better coordination with other related
offices to provide better service to investors," Antara quoted
him as saying in Semarang yesterday. (09)