INA wins US$850m deal in RI

INA wins US$850m deal in RI

BONN (Reuter): German plant constructor Kloeckner Industrie Anlagen Gmbh (INA) said on Thursday it had won a contract jointly with other companies to build a cellulose plant in Indonesia.

INA, a unit of NUKEM Gmbh, said in a statement it would take a US$850 million portion of a contract valued at a total of $1.2 billion.

It said it would share the project with Finnish company Ahlstrom Machinery Corp , Kvaerner Pulping Power Division and Sunds Defibrator Woodhandling as well as the Swedish Sunds Defibrator AB.

An international banking consortium signed a contract with P.T. Tanjungenim Lestari to help the Indonesian company finance the project, the NUKEM unit said.

NUKEM GmbH, which is a unit of German energy group RWE AG, bought a 75 percent stake in INA from Kloeckner & Co. AG in January last year.

INA based in Alzenau in Germany employs about 500 workers and is involved in plant construction for the paper, chemical and steel industry, chiefly in eastern Europe, Asia and north America.

NUKEM is involved in nuclear energy, petrochemicals and oil technology.