Freeport Indonesia to provide US$100 mln loan to Papua govt

US owned miner PT Freeport Indonesia has said it will provide a US$100 million low interest loan to the Papua provincial administration.

The regional administration will use the fund to build a cement factory with an annual production capacity of 500,000 tons, said Armando Mahler, the president of the company operating copper and gold mines in that province.

Part of the credit will be disbursed this year to finance studies and development, Mahler said, adding that Freeport will also provide expertise. The factory will sell part of its cement production to Freeport, which needs around 180,000 tons of cement per year.

Source: Asia Today

Advertisements

Leave a comment

Filed under Papua

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s