$5.7b investment seen for MM 2100

JAKARTA (JP): Domestic and foreign investment in the MM 2100 Industrial Town in Cibitung, Bekasi, West Java, is expected to increase from $1.3 billion now to $2.8 billion in 1998 and $5.7 billion in 2003, a Japanese investor said yesterday.

G. Tamatsukuri, the chief executive officer of PT Megalopolis Manunggal Industrial Development, which owns and manages the industrial town, told a delegation of foreign trade officials that the 1,000-hectare integrated industrial estate now accommodated 111 investment projects.

"These projects together have acquired more than 367 hectares of industrial plots in our complex," Tamatsukuri was quoted by Antara as telling trade officials from several diplomatic missions in Jakarta including Austria's, Britain's, France's, Japan's and Vietnam's.

He said the MM 2100 Industrial Town had been developed and managed since 1990 by PT Megalopolis, a joint venture 60 percent owned by Marubeni Corp. of Japan and 40 percent by Indonesia's Manunggal business group.

Tamatsukuri said he expected more industrial projects would be located at the industrial park because Indonesia was attractive to investors, and the estate was strategically located.

"I project total investment in our industrial town will reach $5.7 billion in 2003," he added.

He said that industrial estates with easy access to basic infrastructure such as seaports, highways, power and telecommunications were becoming more popular.

"Moreover, we provide assistance to investors intending to establish businesses at our industrial park to expedite the processing of all required permits.

"First of all, they are saved all the problems of land acquisition when they locate their projects at our industrial park. And if necessary, we can also help them select building contractors to build their plants," he said.

Sugihono Kadarisman, the chief of the Investment Coordinating Board's promotion bureau, who accompanied the foreign trade officials, agreed that industrial estates were designed to help investors get land and permits.

He said the MM 2100 Industrial Town was one of the best industrial parks in the country.

Sony, LG Electronics, Nippon Denso, NSK and dozens of other companies from Asia and Europe are setting up plants at the MM 2100 estate.

Tamatsukuri said the plants at his industrial estate employed 24,000 workers.

"But the employment in this area alone is expected to increase to 25,000 in 1998 and to more than 136,000 in 2003 as new plants are established," he added. (vin)