N Sulawesi expo may win investment agreement Rp2 trillion

Jakarta (Antara News) - The North Sulawesi administration has set a target of obtaining investment transactions worth Rp2 trillion from an investment exhibition or North Sulawesi (Sulut) Expo which is being held here from September 1 to 5.

"Our target of winning investment contracts worth Rp2 trillion is very realistic as during the holding of the exhibition there have been many investors approved agreements to do business in North Sulawesi," Sulut expo organizing committee chairman Torry Kojongian said here Tuesday.

North Sulawesi has won investment agreements worth Rp 136.5 billion until Monday.

The North Sulawesi administration and South Korean firm IR WindPower Co. Ltd signed a US$9 million-worth agreement to develop wind power into electricity in Sangihe and Talaud islands.

The transaction was made on the sidelines of the holding of the expo.

The Memorandum of Understanding which was approved by the North Sulawesi administration and the South Korean investor said that they would develop a power plant in Sangihe and Talaud islands which utilize wind power and will produce a capacity of six MW.

North Sulawesi also inked a $4million-worth agreement with Bao Tai firm of China on a project to develop wind power into electricity as well as on agricultural breeding program in Minahasa Tenggara district.

Another Chinese firm, Newport signed an agreement with the North Sulawesi administration to invest in gold mine in Bolaang Mongodow Utara district.

Torry said many investors attending the exhibition were interested in doing business in plantation, fishery, mining, tourism and energy sectors.(*)
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