Rekayasa Industri eyes Middle Eastern market

JAKARTA (JP): State owned construction company PT Rekayasa Industri is eying the Middle East market as part of its overseas expansion program.

Company president Hari G. Soeprapto said on Monday that there were greater business opportunities in the Middle East.

"The investment projects in the Middle East have not been affected by the economic crisis," he said, adding that the value of mining construction projects in the oil-rich region could reach 10 times the value of projects in Indonesia.

"We have confidence in entering the international market because we have experience in carrying out a project owned by a multinational oil company that has business in Indonesia," Hari told Antara news agency.

Marketing director Chandra Widodo said plans for a project in the Middle East were subject to approval from State Minister of Investment and State Enterprises Development Laksamana Sukardi.

He said construction projects were considered an investment step, and thus needed approval from the office.

Chandra said a decision on the use of state-owned company funds for investment purposes was a ministerial decision.

He said the company's management needed greater autonomy in use of the state-owned company's funds for investment projects.

"We need greater autonomy so we can freely join a tender for projects overseas, including those in the Middle East," he said.

PT Rekayasa made a profit of Rp 1.2 trillion in the first ten months of the year, surpassing the 960 billion target set for the period, according to the company. (udi)