C. Java's steel plant

JAKARTA (JP): PT Sawunggaling Ferindo Steel will build a Rp 178.2 billion (US$75 million) iron and basic steel plant in Purworejo, Central Java this year, an official said yesterday.

The head of the province's investment coordinating board, Soedarsono, said the plant would be built on 250,000 square meters by 715 workers, including 10 expatriates.

"The firm will export 40 percent of its products, and sell the rest domestically," he was quoted by Antara as saying.

But he did not reveal the plant's capacity or when production would start.

He promised to process the company's licenses quickly.

The project would create many new jobs and help the province's economy grow by 7 percent a year, he said.

He said the province was a good place for investment because it had abundant natural resources, productive workers, relatively low living costs, sociopolitical stability and a quick licensing service. (jsk)