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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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Recent News

Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring   ...


Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...


Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...


Tuesday, 25 August 09
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Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...


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