Inco to build power plant

Inco to build power plant

JAKARTA (JP): PT Intercontinental Nickel Indonesia (Inco) will
build a 165 megawatt hydro-power station at Soroako, southern
Sulawesi, to support its production expansion, an executive said
yesterday.

"We will invest US$600 million in the plant's expansion and
the power station," Rumenagan Musu, the company's president, was
quoted by Antara as saying in Ujungpandang, South Sulawesi.

He said at a meeting with South Sulawesi Governor Palaguna
yesterday that the term of Inco's contract had been extended from
2008 to 2025 and that its concession area would be expanded to
Central and Southeast Sulawesi.

Musu added that the company now required additional power to
support the expansion of its mining activities.

Inco, a subsidiary of Inco Limited of Canada, is listed on the
Jakarta and Surabaya stock exchanges.

Inco reported a surge in its net profit for the first six
months of 1995 to $39 million from $16.1 million in the
corresponding period of 1994.(04)