• Indonesia's largest integrated industrial city and deep-water port awarded KEK status
• New status to make nationally important project an "investor-friendly destination"
• Paves the way for expansion of the one of the largest public-private project

JAKARTA, Indonesia, July 2, 2021 /PRNewswire/ -- Java Integrated Industrial Ports and Estate (JIIPE) owned by PT AKR Corporindo Tbk (IDX: AKRA.JK) and Pelindo III is officially ratified as a Technology & Manufacturing Special Economic Zone (SEZ) per Government Regulation (PP) No. 71 of 2021 dated June 28, signed by the President of the Republic of Indonesia, Joko Widodo.

Receipt of Special Economic Zone Status will allow for the further expansion of the port, industrial and residential project, which is expected to generate $17bn in investment and around 200,000 new jobs.

Already a holder of a direct construction license (KLIK) Confirmation of KEK status will grant further benefits to the project, allowing JIIPE to offer new tenants and investors one-stop access to tax incentive schemes and the provision of onsite, one-window access for business permit and license applications.

JIIPE: Java's New Industrial Centre

The JIIPE site, designed by Japanese Master Planner Nippon Koei, is one of Indonesia's largest public-private infrastructure projects. It is expected to play an integral role in the modernization of Indonesia's manufacturing and logistics capabilities.

The sheltered port and industrial city adjacent to Madura Island features one of the deepest ports in the region (-16 LWS) with four multifunction piers able to serve large vessels with more than 100,000 DWT.

It is also uniquely self-sustainable with an independent utility supply and new energy generation facilities capable of supplying up to 1200MW of power.

The 3,000-hectare development is also customizable according to tenants' needs. It has already become home to several prominent MNCs in the heavy, medium and light industry sectors.

JIIPE is also well served by connecting transportation links connected by road and rail links and is situated just one hour from Juanda and Surabaya International Airports.

For more information on JIIPE, please visit https://www.jiipe.com/en

About JIIPE

JIIPE is a public-private project between PT AKR Corporindo Tbk and Pelabuhan Indonesia III. Located in Gresik, East Java province, the 3,000ha site is the country's first integrated industrial city and port development project.