Friday, February 23, 2024

Wanxinda Group signs land utilization agreement for industrial area in Indonesia

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Wanxinda Group has signed a land utilization agreement for a 98-hectare industrial area valued at IDR 1 trillion with PT Integrated Industrial Zone Batang. The Chinese conglomerate has the potential to invest up to IDR 23 trillion in Indonesia.

The signing of the agreement marks the initial phase of Wanxinda’s commitment to investing in Grand Batang City. The signing was witnessed by Yadi Jaya Ruchandi, the President Director of PT Danareksa (Persero), Chris Soemijantoro, Investment Director of PT Danareksa (Persero), Chen Rilling, CEO of Wanxinda Group, and Edwin Darmasetiawan, the Vice President of Wanxinda Group.

Yadi stated that Wanxinda’s entry into the Batang industrial area is concrete evidence that industrial zones in Indonesia still attract global investors like Wanxinda. He believes that Wanxinda will attract interest from companies in China and other countries to invest in Indonesia, especially in Grand Batang City. 

“The entry of Wanxinda into Grand Batang City also has the potential to create more than 200,000 new jobs in the future, especially for the people of Central Java and surrounding areas, with a potential investment of IDR 23 trillion,” said Yadi on November 22, 2023.

Wanxinda is a Chinese conglomerate with four manufacturing bases in Guangzhou, Binzhou, Myanmar, and also in Indonesia. The company has a global market reach and supplies products to major companies such as Amazon in the United States.

Wanxinda is known to have several business segments in China, including IT and media, the production of accessories for technology programs, and the manufacturing of travel goods. 

The company plans to develop and build factories and jointly promote economic development between Indonesia and China.

Ngurah Wirawan, the President Director of Grand Batang City, stated that the presence of Wanxinda proves that the Batang industrial area has attractive advantages for investors. According to him, this is evident from the rapid sale of Phase I covering 450 hectares, which was sold out in less than two years. 

“Currently, 13 tenants have occupied land in Phase I, and six of them are currently under construction. In a short time, we have also managed to make the area operational by early 2024,” he said.

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