Jakarta, 31 August 2012 - West Sulawesi province is going to have a luxury resort located on the island of Karang Puang that will somewhat resemble Sentosa Island in Singapore.
This was revealed by the Director of Investment and Business Development of the Sulawesi Regional Development Coordination Board, Harry Warganegara Aaron at the Indonesia International Infrastructure event held in the Jakarta Convention Center last Thursday.
"In West Sulawesi, more precisely on Karang Puang island, some 100 km from Mamuju, there will be a resort, that we propose to be a kind of Sentosa Island in Singapore," said Harry.
He added that the resort development is expected to occupy a land area of 2000 hectares, but for the early stages just 200 acres of land will be used for a hotel, golf course and water park.
"We calculated that there is around 2,000 hectares available. We will start with 200 hectares first for a hotel, a water park and golf course. It will be developed in phases," he added.
The target is the first stage of the resort will begin construction by the end of this year, with completion expected in 2014. "We hope that before 2014 everything will be ready, after groundbreaking later this year," he added.
Regarding capital, Harry mentioned that the initial investment of the project is valued at Rp 200 billion, from a consortium of foreign investors and local private companies.
"First phase is Rp 200 billion. The funding will be private. A local government-owned enterprise has the land, where the private sector will do the construction. This private investor is a consortium with a foreign partner from China and the local partner is Timbarin. The local partner wants a majority share, but that's still under negotiation," he concluded.
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