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Tuesday, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA


Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in Indonesia to support its business  expansion in the country, the business daily Bisnis Indonesia quoted the company's top official as saying Tuesday.

The expansion move was supported by promising heavy equipment demand in Indonesia for coal mining and construction sectors. To support the expansion, BEML Limited established PT BEML Indonesia.

V.R.S. Natarajan, the chairman and managing director of BEML Limited, said that a fund worth $44 million was allocated for its marketing office construction and spare part depot as well as for a product services centre in Balikpapan in East Kalimantan province.

"Currently, India buys coal from this country and we want Indonesia to buy heavy equipment from India. We have close historical relationship with Indonesia. So, we are a neighbour that wants to maximise business potential with Indonesia," he said in the sidelines of PT BEML Indonesia inauguration Monday.

BEML Limited was formerly known as Bharat Earth Movers. The group's principal activity is to manufacture mining and construction equipment, railway rolling stocks, metro and defence equipment and trading.
Source:Economic Times



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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...


Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...


Sunday, 15 May 11
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Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...


Saturday, 14 May 11
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