GKBI builds canvas plant

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)