Great River, salim to form joint ventures<\/p>\n
JAKARTA (JP): PT Great River International, a publicly-listed
\nclothing producer, said yesterday it would set up two joint
\nventures with the Salim Group's PT Indomulti Inti Industry with a
\ncombined investment of Rp 200 billion (US$84 million).<\/p>\n
Great River's president, Sunjoto Tanudjaja, told a press
\nconference yesterday that Great River, through its subsidiary PT
\nInti Fashindo, would own 60 percent of a company to operate a
\ndepartment store; Indomulti would own 40 percent.<\/p>\n
Great River is to own 40 percent of another company which will
\nmanufacture sports shoes and fashion products; Indomulti is to
\nown 60 percent.<\/p>\n
Sunjoto said that the department store would be operated under
\na ten-year franchising agreement with Hanshim Department Store of
\nJapan.<\/p>\n
\"We will build a department store with a total space of 25,000
\nsquare meters at the Plaza Senayan shopping mall complex in
\nCentral Jakarta,\" Sunjoto said.<\/p>\n
He said the planned department store is under construction
\nand its first outlets are expected to open next year.<\/p>\n
\"Full operation of the department store is scheduled for early
\n1998,\" he said.<\/p>\n
Publicly-listed Indomulti is a producer of Reebok, Puma and
\nAdidas sports shoes which are mostly for export. (alo)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/great-river-salim-to-form-joint-ventures-1447893297",
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"sponsor": "Okusi Associates",
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