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)