Industrial park expanded

Industrial park expanded

TOKYO (AFP): Japan's Marubeni Corp. said yesterday its
Indonesian joint venture PT Megalopolis Manunggal Industrial
Development would expand an industrial park near Jakarta.

The venture, in which major trading house Marubeni holds a 60
percent equity stake, will invest US$260 million in the purchase
and development of 400 hectares (990 acres), with unit sales
starting in March.

The expansion will bring the total scale of the park to 750
hectares (1,850 acres). The existing 350 hectares have already
been sold to 90 Japanese and other companies.

Megalopolis Manuggal expected to sell new lots to companies
from Japan, Europe, Hong Kong, Singapore, South Korea, Taiwan and
Indonesia, Marubeni said.

The joint venture has capital of $15 million, with PT Bekasi
Fajar Industrial Estate of Indonesia owning 40 percent.

Marubeni said it and the Indonesian partner had decided to
upgrade the industrial park following successful sales of
developed property.