Business
November 11, 2005
Japan's Sumitomo plans to expand investment in Indonesia
Matoyuki Oka, the leader of Japan's giant Sumitomo Corporation, reaffirmed that his side would still regard Indonesia with its existing potentials as important and therefore would continue enhancing its investment through business cooperation in this country, local media said on Friday.
"Sumitomo has conducted business activities for about half a century in Indonesia with investment reaching over billions of US dollars. Indonesia is important to Sumitomo in business activities, " Oka said here on Thursday after a meeting with President Susilo Bambang Yudhoyono at the his office, the Jakarta Post reported.
In the company of presidential spokesman Patti Djalal and Energy and Mineral Resources Minister Purnomo Yusgiantoro, Oka told the president about the operations of Sumitomo businesses in Indonesia and the intention to increase its investment.
"Sumitomo invested a great deal in many business sectors and will continue developing its businesses that may give a big contribution to Indonesian development," Oka said.
In the meantime, Minister Purnomo said that Sumitomo, as the oldest company which was established 400 years ago in Japan, had put its capital in Indonesia with a total investment of over 100 trillion rupiahs (about one billion US dollars).
Sumitomo's projects among other things are gold and copper mining on Sumbawa island, a 320 hectare industrial estate in Bekasi which is capable of employing 35,000 workers with a total export value of 2 billion US dollars annually.
In addition, Sumitomo is involved in the development of mass rapid transportation (MRT) system in a distance of 14.5 km in Jakarta which will link Dukuh Atas-Setia Budi-Blok M and Lebak Bulus.
Other projects are geothermal power plant in Lehendong, North Sulawesi and Coal powered plant of Tanjung Jati.
Source: Xinhua
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