PT Merlion Sejahtera Group, a subsidiary of Hong Kong-based Merlion Resources Holdings Ltd., is set to invest a massive Rp129 trillion (US$8.3 billion) in Cirebon Regency, an investment expected to significantly boost local economy and create thousands of job opportunities for the community.
Hasan Basori, Chairman of Commission II of the Cirebon Regency Legislative Council (DPRD), emphasized the importance of this investment for the region’s economic growth.
“Entering the third quarter of 2024, Cirebon Regency’s investment growth has only reached 29 percent of the Rp3.2 trillion target. PT Merlion Sejahtera Group’s Rp129 trillion investment initiative surpasses this target by several thousand percent,” Hasan told the media on Thursday, August 15, 2024.
He highlighted the crucial role of local government in supporting and facilitating this investment, given Cirebon regency’s strategic position along the Northern Java Coastal Region (Pantura) corridor and its strong investment potential.
“We must provide support and ease for investments in Cirebon Regency. This region has a strategic position in the Pantura corridor and strong investment support. Our hope is that this investment will help boost Cirebon Regency’s economic growth, which is currently below that of West Java,” Hasan said.
Hasan cited, in macroeconomic terms, one trillion rupiahs can absorb an estimated 1,500 to 2,000 workers. Imagine, with Rp129 trillion over ten years, we could absorb a significant number of local workers each year.
The investment by PT Merlion Sejahtera Group, which operates in the smelter industry, is also anticipated to support regional exports, further driving the macroeconomic growth of Cirebon Regency.
“The growth brought about by this investment is expected to enhance the macroeconomic development of Cirebon Regency,” Hasan said.
Asep Soleh, Chairman of the Cirebon Regency branch of the Indonesian Employers Association (Apindo), confirmed that PT Merlion Sejahtera Group has officially invested in Cirebon Regency, with plans to develop a 250-hectare site in Pengarengan Village.
“We at Apindo Cirebon Regency are very pleased. Thanks to PT Merlion Sejahtera Group for investing significantly in Cirebon Regency. We also appreciate the local government and Commission II of the Cirebon Regency Legislative Council for their efforts in facilitating this investment,” Asep said.
He highlighted the importance of continued support from all parties, including local government and legislators, to ensure that this investment proceeds smoothly and benefits the community.
“This is extraordinary support from the Cirebon Regency administration for the advancement of the region. With this investment, the economy and unemployment in many areas will improve,” Asep noted.
Gateway for large investors
Asep expressed hope that PT Merlion Sejahtera Group’s presence in Cirebon Regency would pave the way for other investors to invest in the region.
“This investment should be well-supported so that not only Merlion but other companies can also invest in Cirebon Regency. This is a gateway for large investors to enter Cirebon Regency,” Asep noted.
The development plans by PT Merlion Sejahtera Group in Pengarengan Village are expected to commence in 2025. Currently, the land acquisition process has reached 130 hectares out of the planned 250 hectares.
Asep also hopes that local companies will participate in this project to accelerate the realization of the investment.
“Merlion can also be supported by local indigenous companies to speed up the investment process. This is a very good support system,” he concluded.
