New resort worth US$6.58 bln to be built in Indonesia

Jakarta (Antara News/Asia Pulse) - Foreign investors are set to build resort projects with supporting facilities in Lagoi, North Bintan island in the province of Riau Islands worth Rp59.28 trillion (US$6.58 billion).

Work will start next year, with the resorts scheduled to be completed in three years, Gunawan Adiwibowo, the director of PT Bintan Resort Corp. said here Wednesday.

"They are all big names, mainly hotel chains from the United States and Europe," Adiwibowo said, refusing to identify the investors.

PT Bintan Resort Corp. is the operator of a 23,000-hectare plot of land in the Lagoi area.

Business in Asia Today - Dec 07, 2006
published by Asia Pulse
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