China invests 36.4 trillion rupiah in Batang industrial zone

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Indonesia and China recently signed a Memorandum of Understanding (MoU) for 16 projects, with an investment of 36.4 trillion rupiah, related to the "Two Countries Two Parks" (TCTP) program.The Coordinating Minister for Economic Affairs said the project will land in the KEK Industropolis Batang Special Economic Zone (KEK Industropolis Batang). The project covers the production of one million tons of steel per year, meat and seafood processing, ferronickel trading, and textile research and development.

It also includes cooperation in the coal, textile raw materials, tea and jasmine industries, as well as direct sourcing of agricultural products such as coconuts and durians. The Batang Industrial Zone covers a total area of 28,886.7 hectares and enjoys fiscal and non-fiscal incentives, licensing facilities, and three functions: industrial processing, logistics and distribution, and tourism.

There are 27 tenants (7 operational, 7 under construction and 13 in preparation), with a cumulative investment of 17.95 trillion rupiah.They come from the United States, the Netherlands, Korea and many other countries, covering industries such as photovoltaic panels, glass and medical equipment. The seven tenants already in operation have absorbed 7,008 people, 80% of whom are local laborers.KEK is expected to attract another 75.8 trillion dong of investment, create 58,145 new jobs and absorb 250,000 laborers when fully operational.

# Chinese Capital Express