PRESS DIGEST-Indonesian Business News - May 8

Following are the leading business stories in the main Indonesian newspapers on May 8.

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JAKARTA POST

- OIL SELF-SUFFICIENCY BY 2010: GOVT

The Indonesian government plans to increase oil production to between 1.2 to 1.5 million barrels per day by 2010 from 920,000 barrels currently to achieve self-sufficiency, Vice President Jusuf Kalla said.

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BISNIS INDONESIA

- WORLD BANK TO LEND $500 MLN TO FUND CISOKAN POWER PLANT

The World Bank said it is ready to loan $500 million to Indonesian state electricity firm PT Perusahaan Listrik Negara (PLN) to fund the construction of the Upper Cisokan power plant in West Java.

- INDONESIA'S ADARO IPO MAY REACH $800 MLN

Indonesia's second-largest coal producer, PT Adaro Indonesia, said the minimum target for its IPO is $500 million, but it may reach $800 million.

- INDONESIA'S TELKOM SEEKS $500 MLN LOAN FOR ACQUISITION

Indonesia's largest telecommunications operator, PT Telekomunikasi Indonesia Tbk (TLKM.JK), said it will seek $500 million in loans from local banks to fund the acquisition of a Middle East telecommunications company.

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