Batam Gets US$50 Million South Korean Investment In 10 Years

Batam, Riau islands, April 14 (Antara) - South Korean companies have invested US$50 million in Batam during the past 10 years, spokesman of the Batam Free Port and Trade Zone (BP Batam) Dwi Djoko Wiwoho said here on Tuesday. "Twenty-three South Korean companies have invested in Batam during the past 10 years. They have mainly invested in sectors such as electronics and shipping," Dwi said. According to him, some South Korean investors had planned to invest in the construction of a bridge connecting Batam island and its neighbor, Bintan island. However, the plan has not been realized till now. Dwi added that at least 10 new foreign investors have shown interest in investing around US$15.727 billion in the free trade and port area of Batam. According to him, the investors want to do business in heavy equipment trade, real estate, the ship building industry, dockyard and engineering procurement construction, the oil and gas supporting services and the export and import business. The interested investors are from Singapore, Malaysia, Norway, China, the Netherlands and Australia.