Home
Arcelor Mittal to invest $10 bn in Indonesia
Tajikistan News.Net
Friday 9th May, 2008 (IANS)
Jakarta, May 9 (Xinhua) Luxembourg-based steel maker ArcelorMittal has raised its investment cap for new operations in Indonesia to $10 billion from $3 billion that includes bid to acquire shares in state-owned Krakatau Steel, media reports said Friday.
Representatives of the company have met with the minister of the state-owned enterprise, Sofyan Djalil, in Jakarta to learn more about the government's plan to privatise Krakatau.
Mittal's executive vice president for finance, mergers and acquisition, Sudhir Maheshwari, told reporters that during the meeting the firm had explained it would spend up to $10 billion.
'But we still don't know how much we will set aside for buying a stake in Krakatau Steel. We're still waiting for the government's decision on the privatisation plan,' Maheshwari was quoted by The Jakarta Post as saying.
He said that the company was aiming to hold the maximum 49 percent stake in the company while also acquiring shares or a partnership with PT Aneka Tambang, the country's second largest nickel producer.
'For Mittal there is nothing more critical, nothing more emotional, nothing more sentimental than coming back to Indonesia,' he said, nostalgically recalling how the company had its humble beginnings in Surabaya, East Java, in the seventies.
 Email this story to a friend
Have your say on this story
|
 |
 |
- Hindraf lobbies with government, opposition
Kuala Lumpur, May 13 (IANS) As the Hindu Rights Action Force (Hindraf) continues to lobby for the release of its detained leaders, Malaysia's opposition has also taken up the issue. [read story]
- 'Olympics, torch relay not to be affected by earthquake'
Beijing, May 13 (Xinhua) The Beijing Organising Committee of the Olympic Games (BOCOG) Tuesday expressed condolences to the earthquake victims in Sichuan and said the Games, including the torch relay, would not be affected by the natural disaster. [read story]
- Beijing medical workers to undergo anti-terror training
Beijing, May 13 (Xinhua) About 130,000 people working in medical facilities in Beijing will start a month-long training course this week on coping with possible terrorist attacks during the Aug 8-24 Olympics, a newspaper here reported. [read story]
- Rewards offered for information on logo infringement
Beijing, May 13 (Xinhua) Beijing is using the carrot of huge rewards to citizens who report Olympic logo infringement cases in the run-up to the Games. Persons who step forward with information will be rewarded with five percent of what lawbreakers are fined, according to a regulation jointly issued by the Beijing Municipal Bureau of Industry and Commerce and the Legal Affairs Department of the Beijing Organising Committee. [read story]
- Britain vows to be competitive in sailing events
Qingdao: Stephen Park, Britain's sailing team manager, has said that his team was trying to be as competitive as they could in all the classes when the Olympic sailing events are held here in August. [read story]
|
|
 |
 |
|
|
