Thursday, January 7, 2010

UAE's Middle East Coal to invest $5.2 billion in Indonesia's East Kalimantan

The United Arab Emirate's Middle East Coal (MEC) plans to invest $5.2 billion in mining and energy infrastructure in Indonesia's East Kalimantan province including a 1,400 MW coal-fired power plant, a 140-km railway and an  alumina smelter.

Gita Wirjawa, head of BKPM, Indonesia's investment agency, confirmed the plans in a mobile phone text message to Reuters, adding: "as for the railway project, the land clearing has been done in the past months and the first stone will be laid in March."

MEC from the emirate of Ras Al Khaimah is a joint venture between UAE investment fund RAK Minerals and Metals Investments (RMMI) and UAE- based mining company Trimex.

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