Four Indonesian companies have realized investments of around US$125.35 million in the Bitung Zones, North Sulawesi Province - Photo: Privacy.

JAKARTA (TheInsiderStories) – Four Indonesian companies have realized investments of around Rp1.78 trillion (US$125.35 million) in the Bitung Special Economic Zone (SEZ), North Sulawesi Province,” the official said in a written statement on Wednesday (9/4).

Secretary of the SEZ’ National Council Enoh Suharto Pranoto said, since Bitung was put into operation on April 1, PT Futai Sulawesi Utara, PT Indojaya Fortuna, PT Mapalus Makawanua, and PT Puri Bitung Gemilang have started investing in economic zones.

Futai Sulawesi Utara has realized the investment of Rp1.4 trillion. This is the first phase of an investment plan of $200 million. The company is building a recycled paper industry on an area of ​​6.8 hectares in Bitung. To date, the construction of factories has reached 20 percent and is targeted for completion by the end of this year.

While, Indojaya Fortuna also began to invest Rp350 billion to build cold storage in the zones area of ​​1 hectare. The construction has reached 70 percent and is targeted for completion by the end of 2019.

Furthermore, Mapalus Makawanua will invest Rp30 billion in the zone to build an active carbon industry on a 7 hectare land. Currently in the process of signing a collaboration with the zone management business entity.

Then, Puri Bitung Gemilang will invest Rp1 trillion to build a coconut coir processing factory into cocopeat or planting media with an area of ​​2 hectares. Investment value of Rp1 billion. Currently, the factory is in the process of signing a collaboration with the zone management business entity.

The total land area of zones reaches 534 hectares. It is estimated the investment needed for regional development is Rp2.3 trillion, and investment for businesses is estimated to reach Rp32.9 trillion.

The workforce that can be absorbed is 34,710 people. The development of the zones cannot be separated from the development of supporting infrastructure in the form of the Manado-Bitung toll road and port. The toll road consists of 4 segments and the plan will connect Manado-Bitung in the first semester of 2020.

The Bitung port is also being prepared to become an international hub port when it is fully operational in 2025. Deputy for the Coordination of Infrastructure Acceleration and Regional Development of the Coordinating Ministry for Economic Affairs Wahyu Utomo stressed the importance of improving the infrastructure that has been built, not only physically but also non-physically.

Meanwhile, the Morotai zones in North Maluku was also officially inaugurated by President Joko Widodo on April 1. Its main activities are the fisheries processing industry, tourism, and logistics. Local firm PT Jababeka Morotai as the proposer has committed to invest Rp443 billion in the tourism sector and regional infrastructure.

US$1=Rp14.200

Written by Staff Editor, Email: theinsiderstories@gmail.com