Coordinating Minister for Maritime Affairs and Resources Luhut Panjaitan announced a French state-owned company Vinci Construction Grands Projets has signed a cooperation agreement with the local state-owned enterprises PT Indonesia Tourism Development Corporation (ITDC) on development of integrated tourism in the special economic zone of Mandalika in Lombok, West Nusa Tenggara. He said, under the agreement the French state company would build hotels and Moto GP circuit at Mandalika, which is owned by ITDC. ITDC President Abdulbar Mansoer said the French company would invest Rp6 trillion in projects of seven hotels and MotoGP circuit in Mandalika. Both parties have signed the investment agreement worth US$500 million for seven hotels and a MotoGP circuit. The project will occupy a 120 hectare plot of land in a location that would be the next Nusa Dua, Bali. The fund would also be used to build a convention hall to facilitate MICE tourists, he added. He added, the construction of the projects is expected to take two years for completion in 2019.
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