Friday, February 25, 2011

France to Invest in Indonesia Railway System

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The construction of Padalarang-Cicalengka railway system is worth US$174 million.

(ANTARA/Fikri Ali)

France is expected to invest in the development of Indonesian economic corridors at around US$10 billion.

The construction of Padalarang-Cicalengka railway system worth US$174 million has been listed as part of the investment targets.

According to Coordinating Minister Hatta Rajasa, the French government will apply a government-to-government scheme to build up the railway system.

A French manufacturer, Eramet, also plans to put in investment on nickel processing by up until US$4 billion.

Eramet however demands assurance from the government to seal an investment deal to 50 years. However, the applicable rule only allows 30 years of investment, which is extendable.

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