Jakarta Globe, Bambang Djanuarto | October 19, 2010
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| The Argo Gajayana passing through Malang in East Java. Ras Al Khaimah, one of the sheikhdoms of the United Arab Emirates, and Trimex Group plan to invest $5 billion in Indonesian construction projects, including a 130 kilometer railway on Kalimantan. (JG Photo/Afriadi Hikmal) |
Jakarta. Ras Al Khaimah, one of the sheikhdoms of the United Arab Emirates, plans to invest $5 billion in Indonesian construction projects as part of a joint venture with Trimex Group.
MEC Holdings, the venture overseeing all of Ras Al Khaimah and Dubai-based Trimex’s Indonesian projects, will spend $1 billion to build 130 kilometers (81 miles) of railway on Indonesia’s part of Borneo island, executive vice chairman Madhu Koneru said on Tuesday. The link will be able to transport as much as 64 million metric tons of coal a year, he said.
“Construction will start in 2012 and we expect to complete the project in 2014,” Koneru said in an interview in Jakarta after meeting Alwi Shihab, Indonesia’s special envoy to the Middle East.
Indonesia, Southeast Asia’s largest economy, is trying to attract investment in infrastructure as President Susilo Bambang Yudhoyono seeks to deliver average growth of 6.6 percent over the remainder of his second and final term ending in 2014.
MEC Holdings will also invest $500 million to develop a coal mine in Muara Wahau, East Kalimantan province, and build a port with an annual capacity up to 34 million tons, Koneru said.
The venture will team up with National Aluminum Co. to build a 500,000-ton aluminum smelter and power plant in East Kalimantan, according to Koneru. That investment may total as much as $3.5 billion, he said.
Bloomberg
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