10 Nov 2006

Chinese companies may pour money into Papua airport and seaport

11:19 am on 10 November 2006

Two Chinese companies have signed an agreement that could see them invest millions of dollars in the airport and seaport in the Indonesian province of Papua.

A memorandum of understanding on the investments was signed by Papua Governor Bas Suebu and representatives of the two companies during a visit by Suebu to China last week.

Under the agreement, China National Property Administration Council and Qili Holdings will spend US$130 million in the first stage of the investment plan and another 800 million in the second stage.

The Joyo News quotes Mr Suebu as saying the money would be used to improve facilities at Biak's airport and seaport as part of a plan to turn the province into the main center for trade investment and tourism in Papua.