S. Korean firm enters Medan

JAKARTA (JP): The South Korean-based chemical firm Marks and Spencer Corp. plan to build a large chemical plant in Medan Industrial Estate (KIM), North Sumatra.

KIM president Papo Hermawan was quoted by Antara news agency as saying in Medan on Thursday that the Korean investor had rented around eight hectares of the KIM II site, the expansion of the existing industrial estate for its plant.

The KIM II is planned to become the biggest industrial estate outside Java, with a total area of 314 hectares.

At least 15 percent of the site has been sold to foreign investors. Several foreign investors have also shown their interest in entering the industrial park, including those from the United Kingdom, Hermawan said.

Hermawan said that several Japanese investors under PT Pacific Medan have just completed the construction of a US$20 million samin oil plant in the area. The plant is expected to be officially inaugurated by the State Minister of Investment/Chairman of the Investment Coordinating Board Hamzah Haz on Nov. 24. (gis)