The FINANCIAL -- Bali, Indonesia, August 3, 2018 – IFC, a member of the World Bank Group, and PT Surya Semesta Internusa Tbk (SSIA) have formally signed a $100 million loan package for a new 2,000-hectare green state of the art industrial estate in Subang, West Java, set to provide over 34,000 jobs.
Located along the Trans Java toll road network, the Subang industrial estate will provide modern infrastructure for both international and domestic manufacturing firms. It is strategically positioned for access to the newly opened Kertajati International Airport and the Patimban Deep Sea Port currently being developed in Subang, a national strategic project.
SSIA believes that this first investment by IFC in the company will create markets that open up greater opportunities for the future of its new Subang City of Industry project. “We are extremely pleased to partner with IFC for the development of the new Subang industrial estate,” said SSIA’s President Director, Johannes Suriadjaja. “In addition to providing long term capital, we believe our collaboration with IFC will help set a new sustainable green standard for the sector through the use of the latest technology, and spur other industrial estate developers to follow a similar path.”
In formally signing the deal at a ceremony in Bali, IFC CEO Philippe Le Houérou said IFC also planned to boost investments in the country’s tourism sector, in support of the Government of Indonesia’s efforts to accelerate tourism development in key destinations across the country.
“The tourism sector offers tremendous opportunity for the future growth of Indonesia,” he said. “For the country to unlock its true potential, tourism development must move increasingly beyond Bali to other destinations. This is a key objective of the Government of Indonesia’s national tourism plan. We will support the government’s goal by boosting investment in tourism projects, particularly in less developed locations and in an environmentally sustainable manner.”
Subang City of Industry is envisioned as a model for tomorrow’s industrial estate by becoming the first smart and sustainable industrial estate for customers and society in Indonesia. This is in line with SSIA’s vision for Building a Better Indonesia.
A key feature of the new Subang estate will be its innovative green features, such as electric transportation, solar panels and water and power efficient technologies. It will be the first industrial estate to promote IFC’s green buildings standards, with both SSIA and its manufacturing tenants aiming to achieve at least 20 percent savings in energy, water, and materials compared to other similar developments.