Timah, Spanish firm tie up

Timah, Spanish firm tie up

JAKARTA (JP): PT Tambang Timah, a publicly listed tin mining company, and Sociedad para la Promocion Reconversion Industrial of Spain will jointly develop an industrial estate on Bangka Island in South Sumatra.

Tambang Timah's president, Erry Riyana, said Thursday that the two companies also agreed to study a possibility of developing a boat building and automotive component companies in the planned industrial estate.

"Tambang Timah and the Spanish firm also agreed to examine a possibility of jointly setting up a power plant to support the industrial project," he said following the signing of the cooperation agreement.

Tambang Timah, listed on the Jakarta and London stock exchanges, is headquartered on the island. Most of its tin mines are on Bangka. (hen)