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Singapore Prime Minister Lee Hsien Loong and Indonesian President Joko Widodo are set to officially open the Kendal Industrial Park (KIP)—regarded as the first large industrial investment in Indonesia outside of Batam by a Singapore company—in Semarang today.
Jointly developed by the city-state’s Sembcorp Development and local firm PT Kawasan Industri Jababeka, the 2,700ha self-contained industrial township will come with ready-built factories and land parcels for residential and commercial developments, including resorts.
According to Sembcorp’s Chief Executive Officer Kelvin Teo, KIP is envisioned to become an “economic engine” for attracting investments and generating jobs in the Central Java region.
It will primarily function as an alternative manufacturing location to absorb the spillover industrial activity from Jakarta. Once finished, the mixed-used development will be known as ‘Park by the Bay’, according to Kendal Industrial Park’s CEO Ling Poon Lim, in reference to some of SIngapore’s famous landmarks.
The development will showcase the characteristics that the republic is famous for, he said. It will feature a 2km pedestrian street akin to Orchard Road, a 42km biking path, a golf course and a place to watch the sunset similar to the waterfront gardens in Marina Bay.
KIP’s first phase, which spans 860 hectares or about the size of Punggol town, is expected to be ready by 2020.
So far, 20 companies from Singapore, Indonesia, Japan and Australia have invested US$330 million (S$466 million) in the industrial park, which is projected to employ about 4,000 workers once it is completed.
Image: Aerial view of Kendal Industrial Park. (Source: Jababeka)
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