Wed, 11 Aug 2010

Kendari, South East Sulawesi (ANTARA News) - Saudi Arabia`s Bin Laden Group has postponed its plan to invest in South East Sulawesi as a consequence of the global financial crisis last year, the region`s governor said.

Southeast Sulawesi Governor Nur Alam said here on Tuesday the Saudi firm had only postponed its investment in a `basmati` rice development project in the province.

He said development of Basmati rice which is a rice type consumed by most of peoples in Middle East countries would be continued but the investor had not yet decided when.

"We hope that that this cooperation will continue and the investment can be realized because development of this rice type will benefit the people of Southeast Sulawesi as this province has vast agricultural land potentials," the governor said.

The Bin Laden Group had previously expressed its intention to invest Rp15 trillion in Southeast Sulawesi province and cooperate with a number of local firms such as Sumber Alam Sutera, Wolo Agro Makmur and Digul Agro Lestari.

Nur Alam said he was still maintaining contact with the Saudi company and doing his best to persuade them to realize their investment plan in 2011.

"In principle, they intend to continue their investment plan in Southeast Sulawesi. What they are doing now is waiting for the return of world economic stability. We hope they will start the project next year," the governor said.