S. Korean firm enters Medan

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)