Great River, salim to form joint ventures

Great River, salim to form joint ventures

JAKARTA (JP): PT Great River International, a publicly-listed
clothing producer, said yesterday it would set up two joint
ventures with the Salim Group's PT Indomulti Inti Industry with a
combined investment of Rp 200 billion (US$84 million).

Great River's president, Sunjoto Tanudjaja, told a press
conference yesterday that Great River, through its subsidiary PT
Inti Fashindo, would own 60 percent of a company to operate a
department store; Indomulti would own 40 percent.

Great River is to own 40 percent of another company which will
manufacture sports shoes and fashion products; Indomulti is to
own 60 percent.

Sunjoto said that the department store would be operated under
a ten-year franchising agreement with Hanshim Department Store of
Japan.

"We will build a department store with a total space of 25,000
square meters at the Plaza Senayan shopping mall complex in
Central Jakarta," Sunjoto said.

He said the planned department store is under construction
and its first outlets are expected to open next year.

"Full operation of the department store is scheduled for early
1998," he said.

Publicly-listed Indomulti is a producer of Reebok, Puma and
Adidas sports shoes which are mostly for export. (alo)