GKBI builds canvas plant

JAKARTA (JP): The Federation of Indonesian Batik Cooperatives (GKBI) and two Japanese investors, Daiwabo and Nichimen, are nearing completion of a canvas fabric factory worth US$11.4 million in Cirebon, West Java, Antara reported on Thursday.

"The factory, which is expected to support local paper industries, is in the final stage of construction and should start operations in April 1999," said GKBI's chairman Noorbasha D.

He added that total annual production capacity would be 110,000 square meters.

He said $8.1 million would be financed through bank loan and the remainder from equity, of which $660,000 would be provided by GKBI, $2.47 million by Daiwabo and $165,000 by Nichimen. (02)