Mega township for Bintan

JAKARTA (JP): Three firms from Indonesia, Malaysia and Singapore are setting up a joint venture, PT Kemayan Bintan, to develop a S$1 billion (US$714.3 million) township on Bintan island in Riau.

PT Tetira Pratiwi Development of Indonesia, Kemayan Project Sdn Bhd of Malaysia and Meridian Entity Pte Ltd of Singapore are scheduled to sign a joint venture agreement on Nov. 18 in Johor Bahru, Malaysia.

Kemayan Bintan is being set up to develop Kota Kemayan Bintan, an 1,100-hectare integrated township. It will include a ferry terminal, marina facilities, apartments, houses, shops, offices, shopping centers and hotels.

Bintan is located within the Indonesia-Malaysia-Singapore Growth Triangle. (icn)