REPUBLIKA.CO.ID, CILEGON -- President Yudhoyono has urged related ministers to ensure that the groundbreaking and inauguration of projects related to the Masterplan for Acceleration and Expansion of Indonesia's Economic Development (MP3EI) be implemented on time as planned.

"I ask the coordinating minister for economy and other related ministers to make sure that the groundbreaking of all MP3EI related projects in 2014 be implemented on time," noted the president in Cilegon, Banten Province, on Monday.

While inaugurating the integrated steel factory of PT Krakatau Posco in Cilegon, the head of state reinstated that the other MP3EI projects, which have been under construction for two years, should be completed on time as planned.

The integrated steel factory of PT Krakatau Posco is one of the MP3EI projects, others being the expansion of Tanjung Priok port and Soekarno-Hatta airport in Jakarta, the development of Mass Rapid Transit (MRT) and other infrastructural developments.

"We want our economy to grow strong and sustainable through the MP3EI program until 2025, and this integrated steel factory is part of the development in the industrial cluster of Java Island," stated the president.

PT Krakatau Posco is a joint venture between Posco and PT Krakatau Steel, which own 70 percent and 30 percent stake respectively. This project, worth US$6 billion, is the biggest investment project in Indonesia.

The president noted that strong cooperation between Krakatau Posco and Krakatau Steel is a long term investment to make Indonesia a strong industrial nation.

"Along with national industrial progress, the current steel supply is also lacking and thus the government continues to encourage Krakatau Steel to become a reliable sheet steel producer," pointed out the president.

He expressed hope that PT Krakatau Posco will increase the capacity of steel produce to meet the national demand of steel.

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