TEMPO Interactive, Berlin:German supplier of industrial tools and machinery Ferrostaal GmbH is planning to invest in Indonesia. The company, based in Essen, will build a petrochemical factory in West Papua. The investment plan was announced during a meeting between Ferrostaal director Klaus Lesker and President Susilo Bambang Yudhoyono at the Hotel Adlon Kempinsky on Monday, March 4. Lesker has signed the project’s letter of intent with the Industry Ministry’s manufacture-based industry director general Panggah Susanto, witnessed by Industry Minister Mohamad Suleman Hidayat and Investment Coordinating Board (BKPM) director Chatib Basri. Lesker said the project would be profitable for Indonesia because it will reduce petrochemical imports by US$600 million per annum. In addition, Indonesia will have the opportunity to gain technology exchange and reduce unemployment by 3,000 people. “That’s four times the employment rate in other industrial sectors such as liquefied natural gas,” Lesker explained. WAHYU MURYADI (BERLIN)