Toll road projects update
The long awaited Kukusan-Cinere (5.5 KM) section of Cinere-Jagorawi toll road, which will connect the Jakarta Outer Ring Road-2 (JORR) and Jakarta-Bogor-Ciawi (Jagorawi), might not be completed as planned this year, but land acquisition progress gave public optimism.
Infrastructure projects update
Luhut Binsar Panjaitan, Coordinanting Minister for Maritime and Investment Affairs, confirmed that President Joko “Jokowi” Widodo and Chinese President Xi Jinping will be on board of the train test for the Jakarta – Bandung high-speed train (HST) on November 16, 2022.
Bitung SEZ so far
President Joko “Jokowi” Widodo already inaugurated commercial operation of the Danowudu-Bitung section as part of the Manado-Bitung toll road in North Sulawesi, thus bringing the construction of the 39.8 kilometers toll road to completion. The toll road will make it easier for people/goods to travel between the two cities, or from Manado to Bitung International Port, and vise versa.
More players in the data center business
Data center industry continues to attract foreign investors. Equinix, a digital infrastructure company, has recently announced its expansion in Indonesia with plan to establish International Business Exchange (IBX) data center in Jakarta with US$74 million of...
The fast-growing Batang Industrial Estate
President Joko ‘Jokowi’ Widodo has on Monday (October 3) kicked off construction of plastic pipe plant worth US$125 million from PT Wavin Manufacturing Indonesia. This is only one of tens of companies already in physical construction phase in the so-called Batang Integrated Industrial Estate (BIIE).
Road King’s Toll Investment in Indonesia
Hong Kong-based Road King Infrastructure Ltd continues to boost its investment in Indonesia. On September 27, 2022, its indirectly 75%-owned Kings Bless entered into the conditional sale and purchase agreement (SPA) for acquiring 39.77% equity interest in in PT Jasamarga Semarang Batang (JSB) from PT Waskita Toll Road (WTR), subsidiary of state construction firm Waskita Karya (WSKT), at consideration value of HK$1.98 billion, equivalent to Rp3.82 trillion.
Domestic asphalt production
President Joko “Jokowi” Widodo in his visit to inspect PT Wika Bitumen, a unit of state construction firm Wijaya Karya (WIKA), in Buton Regency, Southeast Sulawesi province yesterday urged the import of asphalt to be stopped by 2024. The domestic industry would be encouraged to meet the needs of the raw materials for road construction.
Electric Vehicle Development in Indonesia
Electric vehicle (EV) company PT Mitra Motor Group (MMG), a subsidiary of coal miner PT Indika Energy, created a joint venture (JV) with EV component producer Foxteq Singapore on September 22, 2022. The JV, called PT Foxconn Indika Motor (FIM), is licensed to build EVs with four wheels or more, produce batteries and provide management consulting services.
HappyFresh resumes Indonesian operation
E-grocery start-up HappyFresh is back in operation in Indonesia after receiving fresh funds in the form of debt from Genesis, Innoven, and Mars. The amount of funds received is kept confidential by the company. Bear in mind that the company decided to temporarily stop...
Consolidation of cement players
Pathetic oversupply in domestic market has led to series of consolidation in the cement industry. After acquisition of Holcim Indonesia (SMCB) few years back, the state cement producer Semen Indonesia (SMGR) is getting closer to acquire smaller state cement firm Semen Baturaja (SMBR), awaiting the signing of Government Regulation by President Joko ‘Jokowi’ Widodo.