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President Susilo Yudhoyono has said he hoped the development of the steel industries could help speed up overall industrialization in Indonesia.
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Ari Sigit, a grandson of former President Soeharto, is facing a police investigation for alleged fraud at the expense of the management of a PT Krakatau Steel subsidiary.
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The government of Indonesia on Friday announced 17 new infrastructure projects worth Rp.190 trillion ($22.23 billion).
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Indonesia's investment numbers rose by 27 percent during the year's first quarter, compared to 2010, government officials said Tuesday.
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Indonesian President Susilo Bambang Yudhoyono on Monday announced that the country is planning a $200-billion investment in the next 14 years to advance economic development.
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Three of the four journalists were found guilty in using their positions to obtain shares in the initial public offering (IPO) of Indonesia's state-owned steel company PT Krakatau Steel, local media reported.
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The government on Friday tightened regulations on the import of 202 iron and steel products in a bid to protect local producers caught in the economic slump. Diah Maulida, director general of trade at the Ministry of Trade, said the decree, effective April 1, was issued in order to allow the market to absorb 2.5 million tons of domestic iron and steel products.
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The Indonesian government Monday submitted a list of 37 state-owned enterprises (SOEs) for its privatization drive this year to the House of Representatives. "There are 37 SOEs that we propose for the 2008 restructuring program," said Minister for State-owned Enterprises Affairs Sofjan Djalil. "But we have yet to get a final say from the privatization committee. We plan to hold a meeting with the committee this week regarding the 37 SOEs," he said during a hearing with the House commission four overseeing SOEs.
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