Lippo enters tourism project in S. Sulawesi
Lippo enters tourism project in S. Sulawesi
JAKARTA (JP): Lippo Group, one of the leading diversified
conglomerates in Indonesia, has injected fresh money into the PT
Gowa Makassar Tourism Development Corporation (GMTDC) for the
development of a tourist estate in South Sulawesi.
Lippo's top executive, James T. Riady, said in a press
conference here yesterday that his company has agreed to invest
Rp 39 billion (US$17.6 million) as equity participation in GMTDC.
GMTDC was established two years ago with an authorized capital
of Rp 2 billion provided by the provincial administration of
South Sulawesi, the Ujungpandang mayoralty, the Gowa regency, the
Foundation of South Sulawesi Development and PT Barana Sakti. To
allow the entrance of Lippo, the authorized capital has been
raised to Rp 50 billion.
James explained that GMTDC now has a paid-up capital of Rp 40
billion, with Rp 39 billion from Lippo and Rp 1 million from the
founders.
He said that GMTDC will develop a 1,000-hectare plot in
Tanjung Bunga, Ujungpandang, into a first-class tourist estate,
which will in turn support economic growth in the eastern part of
the country.
No single firm thus far has developed any tourism facility in
the planned estate since GMTDC was set up two years ago.
Barana Sakti's president, Tanri Abeng, said: "Indeed, we need
a leading business group. Lippo has answered our invitation to
participate in the project and we will ask other firms to
establish hotels, marinas, recreation centers and other tourism
facilities in the planned estate."
Estates
The government has already planned at least 11 tourist estates
throughout the country but only one, in Nusa Dua, Bali, has been
developed. Another in Tasik Ria of Manado, North Sulawesi, is
still being constructed.
The other planned projects, including those in Nias (North
Sumatra), Gunuang Padang Ale Malih (West Sumatra), Merak
Belantung (Lampung), Belitung (South Sumatra), Lombok (West Nusa
Tenggara), Tanjung Bunga in Ujungpandang, Pangandaran (West
Java), Baturaden (Central Java) and Marauw in Biak (Irian Jaya),
have never been developed due to a lack of proper supporting
infrastructures.
James said yesterday, however, that within the next 10 years,
investments for GMTDC's projects will reach at least Rp 1
trillion.
"I have asked Hyundai of Korea, several international hotel
management chains and businessmen from South Sulawesi to develop
properties in the planned estate," he said.
In the first phase, Lippo Group will develop high-rise
buildings with an investment of Rp 250 billion and construction
will commence in August.
South Sulawesi Governor Z.B Palaguna, who attended yesterday's
press conference, said that the environmental impact analysis for
the project has been concluded, while the social impact analysis
will be pursued soon.
He also said that his province expects a total investment of
Rp 16.8 trillion within the current Sixth Five-Year Development
Plan (Repelita VI) period.(icn)