PT PP (Persero) Tbk, one of the leading, largest, and foremost construction and investment companies in Indonesia (“PTPP”) attended the Groundbreaking Ceremony for the construction of the First Factory in the Batang Integrated Industrial Estate (“KIT”) or Grand Batang City. The construction of the first factory at KIT Batang was marked by the groundbreaking procession which was held today Thursday (20/05) at the construction site, Central Java. The event was also attended by the Minister of Investment or Head of BKPM Bahlil Lahadalia, President Director of PTPP Novel Arsyad, Director of Corporate Strategy & HCM of PTPP Yul Ari Pramuraharjo, CEO of KCC Glass Corporation Kim Nae Hoan, President Director of KCC Glass Indonesia Lee Young Min, Repubilc of Korea Ambassador Park Tae-Sung, Governor of Central Java Province Ganjar Pranowo, Regent of Batang Wihaji, and other officials. The Groundbreaking Ceremony for the construction of the first factory was held at the project site by strictly implementing the Covid-19 health protocol for invited guests who attended and maintaining a distance from each other.
KCC Glass Corporation is the largest glass producer in Southeast Asia originating from South Korea. The company will occupy a land area of 49 (forty nine) hectares with an investment value of around Rp. 5 Trillion. The factory construction process is planned to be completed in 2023 and start operating in 2024. Previously, KCC Glass Corporation had 2 (two) factories to produce glass, located in Yeoju and Jeonui, South Korea. In the records of the Ministry of Investment / BKPM, South Korea is in the 3rd place (three) countries of origin for investment realization in the first quarter of 2021 with a total investment value of USD 0.9 billion originating from 1,220 (one thousand two hundred and twenty) projects.
PTPP really appreciates and is pleased with the presence of the first tenant at KIT Batang, namely KCC Glass Corporation. The presence of KCC Glass Corporation at KIT Batang will have many positive impacts on the Indonesian economy. We hope that the groundbreaking ceremony for the construction of this first tenant factory will be a trigger for large foreign and domestic investors to decide to invest in KIT Batang. Together with the central government, local governments and several other institutions that play a role in this investment, PTPP will make full efforts to provide the best support and cooperation.
PTPP as a member of the consortium as well as the largest and best national contractor is currently ready to partner with KCC Glass Corp in building a factory of the highest quality. We are sure that the presence of KCC Glass at KIT Batang will certainly have a positive impact on the economy and hope in opening up new jobs and increasing wider cooperation between Indonesia-Korea for the people of Batang, Central Java in particular and the Indonesian people at large. With the KCC Glass Corp Groundbreaking Ceremony for us not only as a symbol of the start of the KCC Glass industry development, but also as a symbol of invitation to other investors to immediately follow in the footsteps of KCC Glass Corporation.