ASEAN KEY DESTINATIONS
Chinese firm to fund Indo road project
China Metallurgical Group Corporations has expressed interest in financing a road construction project worth Rp 1.5 trillion (US$165 million) in Mamuju, West Sulawesi, the regional Chamber of Commerce and Industry (Kadin) says.
After a meeting with a delegation of Chinese firms, West Sulawesi Kadin chairman Harry Warganegara told reporters on Friday that the meeting was a follow-up to the Memorandum of Understanding (MoU) signed in 2010 by the Chinese and Indonesian governments with regards to the funding of future development projects in West Sulawesi.
"This particular Chinese investor is ranked eighth in the world. It's subsidiary has the large capital to fund the project," said Harry.
The Chinese delegation recently proposed a blueprint for the project, which is estimated to begin mid-April 2011. West Sulawesi Governor H Anwar Adnan Saleh attended the presentation.
The decision will rest on the result of the feasibility study that is currently being conducted by the Chinese investors.
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