JAKARTA (TheInsiderStories) – Malaysia’ Ran Holdings Berhard (RANHILL) had signed three memorandum of outstanding with PT Jasa sarana to develop an infrastructure projects in West Java Province. The regionally – owned firm is engaged and has experienced in infrastructure including regional development.
RANHILL announced yesterday (11/27), the projects included a geothermal power plant and a mini hydro power plant. A regional waste management and final processing project is also being considered.
In details, RANHILL elaborated, both will collaborating to develop Cisolok – Cisukarame Geothermal Working Area concession, mini hydro project, and Cirebon Raya Regional and Legok Nangka Regional Waste Management. Jasa Sarana‘ part, it said, to ensured the completion of a power purchase agreement with state-owned power producer, PT Perusahaan Listrik Negara (PLN).
“The validity of the MOUs are for three months period starting the the signing of the MOUs date. Should the cooperation contemplated in the MOUs are not implemented, it will not result in legal consequences or financial losses for both parties,” said RANHILL in an official statement.
Currently, Jasa Sarana has a number of projects such as Bogor Outer Ring Road on-off ram worth of Rp300 billion, Cileunyi – Sumedang – DawuanToll Road section, PT Jasa Medivest, and Kertamukti Minihidro Power Plant (PLTM) in Sukabumi, West Java.
No further details on the investment value of the projects, but recently Jasa Sarana get an injection of non-budget investment financing (PINA) more than Rp1 trillion (US$71.43 million) will be directed to strategic projects.
To spend these funds, the local entity had signed the head of agreement with PT Indonesia Commodity & Derivatives Exchange Bonded Logistics through the facilitation of the PINA Center for Private Investment.
Recently, governor of West Java Ridwan Kamil said, the province will established four special economic zones (SEZs) in this year. The SEZs will take place in Sukabumi, Pangandaran, Subang and Majalengka.
He adds, the investment to build the SEZs need costs around Rp 80 trillion. Beside use regional expenditure budget, West Java Government needs supporting from public investors including foreign investors.
“Some investors come to us, from United States of America and South Korea,” he said in Jakarta on Jan. 31, 2019.
Kamil revealed, by establishing the SEZs, he hoped it can solve logistic problems in West Java. It will be also able to attract other foreign investors to invest in the province.
He expect, many foreign investors will come to West Java followed the regional government program. To that, he said, the governor’ office will offer tax incentives and government supports to build the the SEZs.
So far, Kamil claimed West Java as the most popular destination for foreign investors. It can be seen from the investment achievement in West Java that reached Rp 116.9 trillion in 2018.
“West Java is in the first place of the most popular destination in Indonesia, second is the Jakarta, third is Central Java and the next is Banten,” he explained.
There are some reasons to make West Java is in the first place, said Kamil. One of them is massive of infrastructure developments. Also, the location of West Java that close to the capital of Indonesia.
RANHILL is an investment holding company listed on the Malaysian bourse, engaged in the sector of water management and water supply, waste water management, and the power generation business.
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