$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)