Chiyoda wins RI order

Chiyoda wins RI order

TOKYO (AFP): Japan's Chiyoda Corp. said yesterday it had received a US$400 million-$500 million order from PT Smelting Co. to design and build a copper refinery in Indonesia.

The major Japanese plant engineering firm said the construction of the refinery, with annual capacity of 200,000 tons, was scheduled to be completed by late 1998.

Smelting Co. is a joint venture between Mitsubishi Materials Corp. and PT Freeport Indonesia, set up in February 1996. The venture, capitalized at $87.5 million, is 75 percent owned by Mitsubishi Materials and the remaining 25 percent by Freeport Indonesia.