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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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Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...


Friday, 07 January 11
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Thursday, 06 January 11
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Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...


Thursday, 06 January 11
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Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...


Thursday, 06 January 11
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Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...


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