Indonesia launches new commercial, residential zones in Batang to investors
Jakarta (The Uttam Hindu): Indonesia, through its PT Kawasan Industri Terpadu Batang (KITB), has launched a new commercial and residential zones at the 4,300-hectare Batang Industrial Area in Central Java province, opening business opportunities for investors.
"The commercial and residential zones provide opportunities for investors to invest in various sectors such as hotels, educational zones, premium outlets, gas stations, golf courses, and premium residential areas," said Ngurah Wirawan, general director of KITB, in a press statement, quoted by Xinhua news agency. He said that KITB aims to develop a modern and sustainable commercial centre integrated with the residential area, generating new job opportunities for the local community.
"We want to make KITB an investment magnet, a place where opportunities meet potential," Wirawan said. Over the past four years, KITB has sold 339 hectares of the total industrial park area, securing an investment value of 18.7 trillion rupiah (around 1.16 billion US dollars). Tenants come from various countries such as China, Chile, and Japan, in addition to domestic investors from Indonesia, he added. "We are committed to providing the best facilities and ensuring ease of investment. We want KITB to become a premier industrial area in Southeast Asia," he said.
With KITB's announcement, investments totalling IDR 3 trillion for its phase two expansion, foreign investors can secure land for industrial use. KITB in Central Java is designated as a National Strategic Project (PSN), with the Ministry of Public Works and Housing targeting its completion by late 2023. The completion of KITB phase one, dominated by manufacturing companies, witnessed 14 tenants with a total investment of IDR 6.8 trillion and an estimated workforce of 15,707. The construction of KITB represents a new development model, utilising state-owned land and government-provided facilities to streamline the setup for investors, fostering immediate operations upon construction completion.
