Posco To Discuss Indonesia Plans With Investment Officials
JAKARTA -(Dow Jones)- South Korea's Posco (PKX) will meet with Indonesia's Investment Coordinating Board, or BKPM, Tuesday to discuss a possible plan by the steelmaker to invest in Indonesia, the board's chairman said.
BKPM Chairman Luthfi Mohammad told Dow Jones Newswires that BKPM will hold a meeting with Posco officials from around 0600 GMT to discuss whether Posco will go ahead with its investment and other details such as the field it may invest in.
He declined to elaborate, saying further details will be made available following the meeting.
Separately, a South Korea-based spokesman for Posco said the company is looking at business opportunities in Indonesia, including in the resources sector, but hasn't yet made a decision on any potential investment.
Local media have previously cited Indonesian ministers as saying that Posco plans to invest as much as $5 billion in a joint venture with Indonesian state- owned steel manufacturer PT Krakatau Steel (KRK.YY).
BKPM Chairman Luthfi Mohammad told Dow Jones Newswires that BKPM will hold a meeting with Posco officials from around 0600 GMT to discuss whether Posco will go ahead with its investment and other details such as the field it may invest in.
He declined to elaborate, saying further details will be made available following the meeting.
Separately, a South Korea-based spokesman for Posco said the company is looking at business opportunities in Indonesia, including in the resources sector, but hasn't yet made a decision on any potential investment.
Local media have previously cited Indonesian ministers as saying that Posco plans to invest as much as $5 billion in a joint venture with Indonesian state- owned steel manufacturer PT Krakatau Steel (KRK.YY).