Wednesday, October 20, 2010

UAE firm in Indonesia rail deal

Dubai Oct 19: Construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start next March, a top official said.

"This is part of our $1 billion (Dh3.67 billion) investment plan in which India's state-owned National Aluminium Co (Nalco) will invest $4 billion to build a 500,000-tonne luminium smelter and power plant in East Kalimantan," Madhu Koneru, Managing Director of RMMI and Executive Vice Chairman of MEC Holdings, told in an interview.

The first phase of the development programme will involve the commissioning of a 17 million metric tonnes per annum (mmta) coal transportation and handling facility by 2012, while the civil and track work will be completed for a 60 mmta capacity.

MEC Holdings, the venture overseeing all of Ras Al Khaimah and Dubai-based Trimex's Indonesian projects, is investing $1 billion to build the railway and associated facilities on Indonesia's part of Borneo island.
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