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29 May 2010

Indonesia expects investment from three Dubai firms

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Three companies from Dubai, United Arab Emirates, have again underlined their readiness to invest and open new plants in tire industry, automobile battery and gold mining in Indonesia, reported the Jakarta Post.

The readiness to do business in Indonesia by the three companies -- Al Badiya (Bristol), Moafaq Al Ghadah (MAG) Group of Companies and Thani Investments – was disclosed by Indonesian Consul General for Dubai Mansyur Pangeran, when he accompanied a visit by Bogor Regent Rahmat Yassin and his entourage from May 25-27, 2010.

Mansyur, who just assumed his new post on May 6 2010, has conducted a number of breakthroughs to facilitate bilateral cooperation in the fields mainly of trade, investment and tourism.

Al Badiya (Bristol), for example, is interested in taking over or cooperating to develop the tire industry with PT Elang Perdana Tyre Industry in Bogor, West Java, according to news portal.

Al Badiya, which has offices in Dubai, London and Baghdad, has imported tens of thousands of tires from Indonesia and planned to raise purchases by 50,000 tires per month to be exported to Iraq and other Middle Eastern countries.

MAG Group is interested in acquiring tire factories or building new ones in Bogor. The company is also interested in acquiring a battery factory.

During the visit, the delegation from Bogor was received by MAG chairman Moafaq Ahamed Al Ghadah, who once visited Bogor.

Thani Investments, which invests in mining explorations for gold, gas and oil in various African countries, is also interested in gold mining in Bogor. Mining seen attracting $1.4B in investments


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