Trading Markets, Wed, 03 Feb 2010 22:15:35 EST
JAKARTA, Feb 03, 2010
Several major companies plan to invest in Indonesia as early as this year in a boost to the government's plans to attract more foreign business, the industry minister said.
Consumer-products giant Nestle SA (NSRGY) plans to invest $100 million to build a new factory in Indonesia this year, while Arcelor Mittal (MT.AE) will also invest in a project here, Mohamad Hidayat said late Wednesday.
Korean steelmaker Posco and state-owned PT Krakatau Steel will also likely form a multibillion dollar joint venture this year, a proposal that has been under consideration since last year, Hidayat said.
Nestle and Arcelor Mittal already have facilities in Indonesia.
-By Jakarta bureau, Dow Jones Newswires; 62 21 3983 1277; djn.jakarta@dowjones.com
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