Daeju invests U$500 million to build dockyard


Jakarta (Antara News) - Daeju Construction Engineering Co.Ltd will invest around US$500 million to develop a dockyard in Karimun in the Indonesian province of Riau Islands.

"Actually we wish to develop the world`s largest dockyard in Karimun," Oveseas Business Director of the South Korean company, Oh Jae Hong, said after signing a memorandum of understanding for the project with the province`s governor, Ismeth Abdullah, and the district head of Karimun.

He said the dockyard to be developed was expected to be able to accomodate vessels weighing up to 300,000 tons.

He said the project was expected to be started in September or October.

Governor Ismeth Abdullah meanwhile said that all the necessary permits for the project had been processes and some had even been finished. (*)
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