CHANGSHA, Jan. 16 (Xinhua) -- Gold Cup Electric, a Chinese electrical wire and cable producer, will establish a joint venture with an Indonesian firm to offer products for the construction of Indonesia's national grid.
The Hunan-based Gold Cup Electric will contribute 55 percent of the total investment of 560 billion Indonesian rupiahs (42 million U.S. dollars), and the remaining 45 percent will come from PT Bukaka Teknik Utama Tbk, an Indonesian company engaged in engineering, procurement and construction, according to the Chinese company.
The factory will be built in Indonesia with technology exported from China, and the products will supply Indonesia's national electric power company.
Deng Shaokun, official with Gold Cup Electric, said the company has done research in Indonesia and gained ample knowledge about the country's electronic cable market.
If cooperation goes smoothly, Gold Cup Electric will increase its investment and extend its presence in Indonesia, he said.
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