Foreign firms investing US$37.93 million in N Sulawesi

Manado, N Sulawesi (Antara News) - Ten foreign investment projects totaling US$37.93 million are carried out in North Sulawesi province this year, a local official has said.

"There were 18 foreign investment programs totaling $69.48 million that were approved in 2006 but only 10 of them which was worth $37.93 million that have been realized in the following years," North Sulawesi Investment Coordinating and Regional Cooperation Body chairman FB Najoan said here Thursday.

The ten foreign firms are PT Odyssea Utama of Singapore, PT Andrew Food Machinery, PT Sinar Pure Food International and PT Cargill Indonesia of the Philippines, PT Bunaken Bahari Indonesia of Finland, PT Aqua Sport Indonesia and PT Indo Sutera Indah of Thailand, PT Yuk Yow Indonesia of Taiwan, PT Multi Nabati Sulawesi of Britain, and PT Tirta Inti Drenthe of the Netherlands.

They have engaged in tourism, food industrial, fishery product processing, cooking oil, husbandry and trade sectors.

Nayoan said PT Cargill Indonesia of the Philippines and PT Sinar Pure Food are the largest foreign investors in the province this year as they have invested $16 million and $11.5 million respectively.

He said the investors that have not realized their projects are still given a period of three years to carry out their projects.

PT Hindoli of Singapore which planned to invest $23 million is one of the foreign investors which have yet to implement their plan.(*)
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