Medco’s Subsidiary Expands to Papua
“Now we are investing up to US$22 million,” said Medcopapua’s president director.
VIVAnews – PT Medcopapua Industri Lestari, Medco Group’s subsidiary, targets an estimated US$80 million investment in Papua. The investment will be located for biomass and industrial plantation forest (HTI).
“Now we are investing up to US$22 million,” said Medcopapua’s president director Wilson Pola in Jakarta on Thursday, Oct.8.
The biomass and HTI business development is done in two phases. The first phase took US$14 million for developing 169,000 hectares HTI in Merauke.
Medcopapua has given US$14 million investment in the second phase and the investment will be increased to US$80 million.
Until now, Medco has been producing 30,000 tons biomass per year. The production is expected to increase to 360,000 tons per year until 2011 and in the next five year, it will surpass 700,000 tons per year.
Translated by: Ariyantri E. Tarman
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