KOREAN COMPANIES EXPLORE INVESTMENT OPPORTUNITIES IN BIOMASS POWER PLANTS

Manado, N. Sulawesi, May 20 (Antara) - Six South Korean companies are exploring the possibility to invest in biomass power plants spread across twenty sites in Kalimantan, Sulawesi, and Maluku. "A consortium comprising four companies has conveyed its interest to invest in biomass power plant projects in twenty locations. Each power plant has a capacity of 10 megawatts (MW)," Deputy of Investment Promotion at the Investment Coordinating Board (BKPM) Himawan Hariyoga stated here on Wednesday. According to Hariyoga, the approximate value of investment for developing the power plants amounts to US$200 to 300 million. "Most of the Korean investors are interested in new and renewable energy projects. This is very promising as the electricity sector is one of the government's priority programs to achieve an additional generation capacity of 35 thousand MW within five years," Hariyoga emphasized. He revealed that a German company is exploring joint venture cooperation in the shipyard construction project with the Indonesian shipyard company, PAL. The German company is working on material handling and shipping systems. "A Taiwanese company is also exploring investment possibility with some local administrations, including in the maritime and tourism sectors," Hariyoga remarked. The BKPM is organizing the Local Investment Potential Exhibition and Regional Investment Forum in Manado, North Sulawesi, on May 20-21, 2015. The event focuses on investment development in the maritime sector, particularly in Kalimantan, Sulawesi, Maluku, and North Maluku. The event facilitates the investors to have a one-on-one meeting with the government, administration, and business players.