Industrial estate developer PT Kawasan Industri Jababeka plans to spend 5.2 trillion rupiah ($451.49 million) to expand its industrial sites, said CEO Darmono, adding that the firm has bought an 870-hectare site in Kendal, Central Java.
Over the next six years, Jababeka plans to develop commercial and industrial areas as well as a power plant on the site. Director Muljadi Suganda said it is targeting full-year marketing sales of 1.2 trillion rupiah. These sales exclude the Kendal project, which is expected to contribute to sales next year.
Jababeka plans to spend 850 billion rupiah on capital expenditure this year to achieve its target. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11517.5 rupiah) (Compiled by Jakarta Newsroom)