JAKARTA (RambuEnergy.com) – Indonesian company PT Adhidaya Suprakencana has signed a memorandum of understanding (MoU) with China Gezhouba Group International Engineering Co. Ltd last Friday (April 13) in Beijing to develop an industrial zone in North Kalimantan province.
According to a statement of the North Kalimantan Province (Kaltara), both parties have agreed to invest up to US$10 billion to develop the Tanah Kuning Industrial Park with a total area of 11,000 hectares.
Earlier, the Industry Ministry has proposed the Tanah Kuning Industrial Estate in North Kalimantan be listed as a national strategic project as it could potentially drive economic development in the province.
The industrial estate, located in a 10,000-hectare area, has potential to be utilized by various businesses, such as mineral, palm oil and cocoa processing and fisheries.
The Tanah Kuning was situated along a sea route serving international trade and in a future global economic centre in the Pacific Rim, the estate had a vital role to play in reaching out to the northern part of Asia and America. The industrial estate is expected to get electricity supply from the planned Kayan hydropower plant. (*)