Investment approvals decrease
JAKARTA (JP): Total foreign investment commitments approved in the May-June period decreased to US$225.85 million from $1.78 billion in the April-May period.
The Investment Coordinating Board (BKPM) said in its latest monthly report that domestic investment commitments in the May- June period also decreased to Rp 3.05 trillion ($1.41 billion) from Rp 4.85 trillion ($2.24 billion) in the previous monthly period.
The report explained that foreign investments approved by the government during the May-June period were committed for 15 new projects worth $125.16 million and for 17 expansion projects worth $100.68 million.
In comparison, during the April-May period, the government approved 37 new foreign projects worth $697.51 million and 26 expansion projects worth $1.12 billion.
The report also noted that the domestic investment commitments approved in the May-June period comprised 56 new projects valued at Rp 1.95 trillion ($902 million) and 36 expansion projects valued at Rp 1.09 trillion. In the previous monthly period, the government approved 84 new domestic projects worth Rp 3.49 trillion and 43 expansion projects worth Rp 1.35 trillion.
Projects
The report showed that the largest foreign investment commitment approved in the May-June period was made by PT Asa Phil International, with $30 million to be invested in the integrated fish industry such as cold storage, fish canning and fish flour production in North Sulawesi.
The other new foreign investment projects include:
. A $25 million garment plant in West Java committed by PT Giordano Manufactures Indonesia.
. Hotel and accommodation facilities worth $16.27 million in East and West Java committed by PT Hotel Graha Sanbass Corp.
. A $9 million sawmill in North Sumatra committed by PT Koshi Bintika.
The foreign expansion projects include:
. A $25 million hydrogen peroxide plant in West Java owned by PT Peroksida Indonesia Pratama.
. A $24 million thread-mills plant in West Java owned by PT Elegant Textile Industry.
. A $10.12 million chemistry plant in West Java owned by PT Pulo Synthetics.
The new domestic investment projects include:
. A Rp 571.73 billion portland cement factory in Central Java committed by PT Himkonan Pertiwi.
. A Rp 105.65 billion integrated palm oil plantation and refinery in Riau committed by PT Alam Sari Lestari.
. A Rp 96.07 billion palm oil plantation and refinery in Jambi committed by PT Tunjuk Langit Sejahtera.
. A Rp 86.21 billion shopping center in Yogyakarta committed by the board of directors of the Kusumajaya Cooperative.
The domestic expansion projects include:
. A Rp 191.16 billion telecommunications facility in Jakarta owned by PT Bakrie Electronics Company.
. Hotel and office building projects worth Rp 161.29 billion in East Java owned by PT Singa Barong Kencana.
. A Rp 126.74 billion textile factory in West Java owned by PT Melvin International Synthetics.
. A Rp 102 billion roof tile plant in West Java owned by PT Lantai Keramik Mas.
Cancellation
BKPM also announced that it had canceled licenses for six domestic investment projects, five of which would have been built in West Java by PT Fimeco Perkasa Timber Industries (which originally planned to set up an aluminum foil plant), PT Graha Mitra Sentosa (an industrial estate), PT Djagat Kilat (coal mining), PT Sanindo Primadaya (a textile plant) and PT Apindo Prima Karya (a twistable plastic film plant). The other revoked license was formerly given to PT Diamond Raya Timber, which planned to set up a logging and sawmill project in Riau. (yns)