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Kawasan Industri, Singaporean developer JV hits $360M in total investment value

Singapore's Deputy Prime Minister Teo Chee Hean revealed the latest total investment value of Kawasan Industri Jababeka Tbk's joint venture project with Singapore's Sembcorp Development stood at US$360 million, Channel NewsAsia reported.

The joint venture's Kendal Industrial Park, in Semarang, Indonesia, was unveiled in November 2016, by Singaporean Prime Minister Lee Hsien Loong and Indonesian President Joko Widodo.

The 2,700-hectare development, also known by its Park by the Bay moniker, has since been occupied by 30 companies and is expecting 42 additional companies to set up shop on the premises, the Aug. 10 report noted.