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Energy World Corp Plans US$500 Million Investment in East Java
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LAST UPDATED ON WEDNESDAY, 05 OCTOBER 2011 08:03 TUESDAY, 04 OCTOBER 2011 20:32 WRITTEN BY FERDI HASIMAN 0 COMMENTS
Energy World Corp
Theindonesiatoday.com - Australian company Energy World Corporation Ltd plans to invest US$500 million in oil and gas projects in East Java, Indonesia.
The company, according to business portal Bisnis.com, plans to build LNG plant and a power plant with 300 MW capacity in Lamongan regency, East Java.
Soekarwo, East Java governor, appreciates the company's investment plan. "This is indeed a very good news for East Java," Soekarwo said after signing a memorandum of understanding with Energy World Corporation's CEO Stewart Elliott in Surabaya, Tuesday (Oct 4).
Soekarwo explained that the Australian company will initially invest US$100 million in the LNG plant, where East Java administration will prepare for 100 hectares of land. "Other project is a gas-fired power plant with 300 MW capacity," Soekarwo said.
Energy World Corporation (EWC) is controlling shareholder in some oil and gas projects in South Sulawesi. ( [email protected])
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