Jababeka builds new industrial park
Jababeka builds new industrial park
CIKARANG, West Java (JP): PT Kawasan Industri Jababeka, in
cooperation with three Singaporean industrial developers, started
development yesterday of an industrial park here despite concerns
of an uncompleted Environmental Impact Analysis.
The head of the coordinating team for industrial estates at
the Ministry of Industry and Trade, Kasru Susilo, officiated the
groundbreaking ceremony of the 240-hectare Techpark Cikarang.
"The fact that it is a joint-venture development with
substantial foreign investment represents a strong vote of trust
and confidence in the underlying health of the Indonesian
economy," Kasru said.
Techpark Cikarang is a project of PT Gerbang Tehnologi
Cikarang, a Jababeka subsidiary, publicly listed industrial
estate developer PT Kawasan Industri Jababeka and a Singaporean
consortium headed by technology park developer Arcasia Land Pte
Ltd.
The consortium's members are Waterbank Properties Pte Ltd and
Asia Pacific Investment Company Ltd. As well as being an equity
investor, Arcasia is also the project manager and international
marketer for the park.
State Minister of Investment Sanyoto Sastrowardoyo was
initially scheduled to lead the groundbreaking ceremony. But
sources said the minister canceled his trip to Cikarang because
the Environmental Impact Analysis was not completed for the
project.
But Gerbang Tehnologi Cikarang's director Paulus Supartio said
the project did not wait for the analysis by the Environmental
Impact Management Agency (Bapedal) because as an industrial
estate the report was provided by the coordinating team for
industrial estates.
Jababeka's president Sofyan Ismail said the park's total
investment, including the building of standard factories, would
cost about US$225 million.
He said the park, adjacent to the Cikarang Industrial Estate,
targeted only high-tech manufacturing companies.
The targeted industries include electronics, computers,
chemicals, pharmaceuticals, and automation and precision
engineering.
The park will be completed with private power and water
supplies, waste water treatment and advanced telecommunications
links.
Jababeka was established in 1989 to develop the Cikarang
Industrial Estate and Cikarang Baru Kota Hijau residential
township. It was then listed on the Jakarta and Surabaya stock
exchanges in December 1994.
The company recorded a net profit of Rp 101 billion (US$28.37
million) during the first half of this year, a 56 percent
increase over the same period last year.
The company's vice president Iwan P. Brasali said the rupiah's
depreciation had increased the company's profit as most sales
were in U.S. dollars. (08)