Chinese Cos. Pledge $8.6B To Indonesian Smelting Projects

Law360, New York (August 30, 2012, 5:51 PM EDT) -- Indonesia's industry minister said Thursday that a consortium of three Chinese metals companies plan to invest as much as $8.6 billion on aluminum and iron smelting projects in the island nation, multiple news outlets reported.

Speaking to reporters after a signing ceremony with representatives from the three companies, Industry Minister Mohamad Hidayat said the Chinese companies involved are Beijing Shuang Zhong Li Investment Management Co. Ltd., Oriental Mining and Minerals Resources Co. Ltd. and Rui Tong Investment Co. Ltd.

"The projects are forward moves in the...
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