T. Pinang to have township

JAKARTA (JP): Kemayan Bintan Sdn Bhd of Malaysia, PT Terira Pratiwi Development of Indonesia and Meridian Entity of Singapore have formed a joint venture to establish a self- contained township in Tanjung Pinang, Riau.

Under the agreement signed in Johor Bahru, Thursday, the join venture, PT Kemayan Bintan, will invest about Rp 1.7 trillion (US$718 million) in the township project.

Kemayan Bintan president Dato' Tang said the joint venture would build around 20,000 houses on the 1,100-hectare township within 20 years.

He said 20 percent of the homes would comprise luxury housing for foreign residents, who have been recently allowed by the government to purchase and own a home in Indonesia.

Tang said the company will cooperate with local authorities in providing electricity and water to the planned township.(01)