May 30, 2010

Dubai companies to invest in Bogor

London (ANTARA News) - Three companies in Dubai and Sharjah have expressed interest in investment in Bogor as revealed at a meeting with a Bogor regency delegation led by Bogor Regent Rahmat Yassin in Dubai.

Indonesian Consul General in Dubai Mansyur Pangeran flanked by Economic Counsellor Dede Achmad Rifai welcomed the business delegation from Bogor.

First Secretary for information, social and cultural affairs Yana Rudiyana told Antara`s London correspondent Friday that the meeting was the result of approaches by the Indonesian Consulate General in Dubai.

At the meeting with the three leading Dubai companies Al Badiya (Bristol), Moafaq Al Ghadah (MAG) Group of Companies and Thani Investments, produced several commitments.

Al Badiya (Bristol) runs an automotive business, producing car tyres, and was interested in taking over or cooperate in developing the tyre industry with PT. Elang Perdana Tyre Industry in Bogor or with other tyre manufacturers.

Al Badiya (Bristol) which has an office in Dubai, London and Baghdad, had been buying tens of thousands of car tyres each month from car tire producers in Indonesia and planned to raise the volume by 50 tousand each month for sale to Iraq and some other countries.

The Moafaq Al Ghadah (MAG) Group of companies operating various lines of business, including car tires and batteries, wished to take over car tire factories in Bogor or build new ones there.

MAG had already purchased car tires from several producers in Indonesia, and planned to take over car battery plants.

At the meeting, the Bogor delegation was received by Chairman of MAG Moafaq Ahamed Al Ghadah who had once visited Bogor.

Thani Investments which had explored gold, gas and oil mines in many African countries like Egypt, Ethiopia and Nigeria, wished to invest in gold mines in Bogor, as offered by the Bogor delegation.

At the meeting, the Bogor delegation was received by Chief Executive Officer Rishard Camball and Chief Financial Officer Chew Khang Wee.

Rishard Camball, who had visited Indonesia several times to explore investment opportunities, said Thani Investments will make an investment if the Bogor administration was ready to become a partner by way of Bogor administrations` business companies.

After the Bogor administration established the company, Thani Investment will send a team to Bogor for a feasibility study and to estimate the economic value of gold mines in Bogor.(*)

Source : http://www.antaranews.com/en/news/1275219484/dubai-companies-to-invest-in-bogor

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