S KOREAN FIRM TO INVEST $2 B IN SE SULAWESI

Kendari, SE Sulawesi, July 31 (ANTARA) - A South Korean company plans to invest US$2 billion in nickel mining in Southeast Sulawesi province, an official said.

The South Korean company would exploit nickel and build a stainless steel plant in the province, Southeast Sulawesi Governor Nur Alam said here on Thursday.

"In mid-August 2009 we will leave for South Korea to sign a memorandum of understanding with the investor," he said.

He said the local authorities had prepared three nickel mining sites for the investor. They are located in North Konawe, Kabaena Island, and South Konawe.

The places were suitable for the construction of a stainless steel plant, he said.