President Director of PT Surya Semesta Internusa Tbk (IDX: SSIA), Johannes Suriadjaja, invited the owner of American-based, Tesla Inc. (NASDAQ: TSLA), Elon Musk, to invest in Subang Smartpolitan, West Java - Photo by West Java Governor Office

JAKARTA (TheInsiderStories) – President Director of PT Surya Semesta Internusa Tbk (IDX: SSIA), Johannes Suriadjaja, invited the owner of American-based, Tesla Inc. (NASDAQ: TSLA), Elon Musk, to invest in Subang Smartpolitan, West Java. The project valued Rp8 trillion (US$567.37 million), was developed by the uni, PT Suryacipta Swadaya, to support West Java provincial government’ development program.

“I just sent a letter introducing our Subang Smartpolitan and inviting him and his team to see the location and consider our new city as their manufacturing base in Indonesia,” he told reporters on Friday (11/20).

While, West Java governor, Ridwan Kamil, expect, the Subang Smartpolitan will become a benchmark for development in Rebana Metropolitan. The areas that is predicted to be the future of West Java, which includes areas in six districts and one city, namely Sumedang, Subang, Majalengka, Indramayu, Kuningan, Cirebon and Cirebon regency.

He targets that by 2030, the Rebana areas, including Subang regency, will increase the West Java’ economic growth by 5 percent and creates 4.3 million new jobs. He adds, that Subang Smartpolitan connectivity was supported by toll access, international ports, and international airports.

Since September 2020, Surya Semesta offered the land for the foreign companies than wants to relocate their factories to Indonesia. One of foreign companies has relocated their factory to Subang was PT Meiloon Technology Indonesia from Suzhou, China.

According to him, beside  China, number of companies from Japan and South Korea also expressed their interest to entering the industrial zones. This areas has a total land of ​​2,000 hectares and have been marketed since mid-2020.

To support the industrial zones, Surya Semesta plans to build toll access between the areas joined with state-owned toll road builder, PT Jasa Marga Tbk (IDX: JSMR). In 2019, the publicly listed firm has disbursed loans of Rp1.4 trillion to Suryacipta Swadaya, to build the industrial zones in Subang.

Earlier, International Finance Corporation (IFC), signed a $100 million loan package for the art of the industrial estate. Suriadjaja believed that this first investment by IFC in the company will created greater opportunities in the future.

Surya Semesta formerly known as PT Multi Investments Limited and established on June 15, 1971. The company then transformed into PT Surya Semesta Internusa in 1995. The company’ main business is industrial estate and real estate development, construction, and hospitality.

The issuer‘ diversified investment portfolio includes Suryacipta City of Industri, SLP Karawang, Graha Surya Internusa, Gran Melia Jakarta Hotel, Melia Bali Hotel, Banyan Tree Ungasan Resort Bali and Batiqa Hotels. The issuer listed its share in the local bourse and become a listed company on March 27, 1997.

Based on National Investment Coordinating Board data, currently there are 143 companies that have plans to relocates their plants to Indonesia, including the United States, Taiwan, South Korea, Japan, Hong Kong, and China.

US$1:Rp14,100

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