RAK awarded rail licence in Indonesia

23/03/2009 - Ras Al Khaimah Property News
RAK awarded rail licence in Indonesia

The government of Ras Al Khaimah (RAK) has been awarded a new contract to build special purpose infrastructure in Indonesia.

At a joint signing ceremony earlier this month, crown prince and deputy ruler of RAK Sheikh Saud Bin Saqr Al Qasimi and his excellency president Susilo Bambang Yudhoyono of the Republic of Indonesia agreed to cooperate in stabilising coal supplies from the East Kalimantan region via rail links.

"East Kalimantan is the largest producer and supplier of thermal coal to both domestic and international markets. The planned infrastructure investments will enable RAK to maintain a high level of cost management," added Madhu Koneru, managing director of RAK Minerals & Metals Investments (RMMI) and vice-chairman of Middle East Coal.

The partners expect that the development of a handling facility will be completed by 2012.

RMMI will invest a total of $1.5 billion (£1.035 billion) in the project as part of its regional growth strategy.ADNFCR-2019-ID-19087572-ADNFCR