PR91539

JAKARTA, Indonesia, Sept. 8, 2021 /PRNewswire=KYODO JBN/ --

-Freeport Indonesia signs 80-year lease with JIIPE for its newest g 1.7 million

Metric Ton Copper Smelter and Precious Metal refinery

Indonesia's newest Special Economic Zone (SEZ), Java Integrated Industrial and

Port Estate (JIIPE), announced it is poised to reach its target of $17 billion

in investment and create 20,000 new jobs, as it confirms new major investor

Freeport Indonesia (PTFI).

The 3,000-hectare industrial hub, owned by PT AKR Corporindo Tbk (IDX: AKRA),

signed on August 27 a long-term 80-year lease agreement with Freeport Indonesia

(PTFI), one of Indonesia's largest mining companies to develop a new copper

smelter complex, spanning 100 hectares at an estimated cost of $3 billion.

The agreement for construction and use of BMS infrastructure for 40 years was

signed on September 3rd 2021.

"The smelter project requires extensive use of port facilities, laydown area

during construction, reliable supply of utilities, as well as ease of licensing

and administration. This is something that SEZ JIIPE can offer to all our

investing tenants," said Haryanto Adikoesoemo, AKR Corporindo's President

Director.  

JIIPE's integrated, multifaceted infrastructures are one of its major assets,

designed to simplify operational processes for industries. The hub,

strategically positioned in East Java, offers access to the region's deepest

ports (-16 LWS) and direct toll access to international airports. Making the

domestic and international transport of goods cost-efficient, especially across

archipelagic Eastern Indonesia.

JIIPE's SEZ designation allows local and international companies to benefit

from a wide array of fiscal and regulatory exemptions and facilitations. The

estate's Direct Construction Service (KLIK) provides investors one-window

facility to support them to start construction and manufacturing immediately

These comprehensive investment incentives have proven an encouraging draw to

major companies. To date, JIIPE has achieved investment of $3.5 billion from 16

tenants, including PTFI.

For more information on JIIPE, please visit https://www.jiipe.com/en

About JIIPE

JIIPE is a public-private project between PT AKR Corporindo Tbk and Pelabuhan

Indonesia III. Located in Gresik, East Java province, the 3,000ha site is the

country's first integrated industrial city and port development project.

SOURCE  PT AKR Corporindo Tbk

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   Caption: SEZ JIIPE - Port and Infrastructure