Buy INCO break out :cfm darvas, with volume.. target price 75000~88000 Indonesia's Inco to resume construction of Karebbe power project
JAKARTA (Thomson Financial) - Nickel miner PT International Nickel Indonesia (Inco) said Tuesday it will shortly resume the construction of its 280 million US dollar Karebbe hydroelectric project in South Sulawesi following approval from its board of commissioners. The project was suspended in January last year pending finalization of the terms of the forestry permit. Early last month, the company secured government permission to use a forested area next to its concession area for construction of the plant. Upon completion of the project in 2010, Inco said its output of nickel will increase to 200 million pounds from the 60-165 million pounds forecast for this year. The company also said the plant will increase its hydroelectric generation capacity by 90 megawatts or 33 percent. (1 US dollar = 9,101 rupiah) [EMAIL PROTECTED] disclaimer on
