VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

World Bank Group member IFC and PT CT Corpora (CT Corp) announced their first investment transaction together, wherein IFC is providing $275 million loan to PT Trans Corpora (Trans Corp), CT Corp`s wholly-owned subsidiary.

The aim is to support the growth of its retail, tourism, and property operations across the country, based on a statement received here on Tuesday.

IFC`s investment will help Trans Corp add new retail stores across 25 cities by 2025. This will subsequently boost the growth of modern retail infrastructure across the country and improve consumers` access to a range of quality products.

It will further develop local supply chains, involving a larger base of local suppliers and Small and Medium Enterprises (SMEs).

Trans Corp`s expansion of its retail operations is expected to create over 30 thousand new jobs in Indonesia.

In addition, working with over six thousand suppliers -- nearly 70 percent being SMEs -- will create some 23 thousand indirect jobs in areas, such as farming and distribution.

"We are honored to partner with a global player, such as IFC, with extensive global experiences, extensive networks, and knowledge. IFC`s support will help us expand and serve a growing number of customers with innovative products and services while also investing in their future by adopting more sustainable business practices," CT Corp Chairman Chairul Tanjung stated.

In line with the Government of Indonesia`s strategic priority to develop the country`s tourism sector, supported by a World Bank loan of $300 million, IFC`s investment will also help Trans Corp expand its tourism operations.

In addition to its existing properties, the Group has an agreement with Accor, a global hospitality company, to develop 30 new hotels, adding nearly six thousand new rooms across the country.

Furthermore, addressing the needs of the middle-income population as well as the country`s housing deficit, Trans Corp is developing more than 10 thousand affordable apartments across multiple locations.

Trans Corp is also committed to promoting resource-efficient buildings -- worth at least $275 million -- that meet IFC`s EDGE (Excellence in Design for Greater Efficiencies) Green Building standard.

The building sector is Indonesia`s third-largest final energy consumer and accounts for approximately 27 percent of the total final energy consumption. If left unmitigated, buildings are likely to consume nearly 39 percent of the total energy by 2030.

"IFC is delighted to engage with a leading Indonesian Group like CT Corp. This financing package aims to maximize Indonesia`s private sector-led development and support one of its key goals of creating jobs," IFC`s Regional Vice President for Asia & Pacific Nena Stoiljkovic stated.

"By embracing innovation and inviting private sector investment, Indonesia can boost economic growth through a pipeline of sustainable and diverse projects," IFC`s partnership with CT Corp began with a memorandum of understanding signed by Philippe Le Houerou, CEO of IFC, and Chairul Tanjung in October 2018. (ant)

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has disclosed the finding of a new potential gas reservoir in Sakakemang Block in South Sumatra to meet the national energy demand.

Head of SKK Migas Dwi Soetjipto stated in Jakarta on Monday that the exploration in Sakakemang working unit was conducted by a consortium of Repsol, Petronas, and Mitsui Exploration.

The exploration will be continued until data is received on the volume of gas reserves in the area.

"The potential is significant, although for now, we cannot reveal the amount (of the reserve). Of course, it will be proceeded with preparation for production activities," Soetjipto revealed.

Repsol, in 2018, had decided to conduct the second drilling in Sakakemang Block. Drilling in the Kaliberau Dalam 2X (KBD 2X) well had been initiated since August 20, 2018, with the target of getting a fractured basement reservoir. The well is located some 60 kilometers from Suban, South Sumatra`s giant fractured gas reservoir.

In early February, Repsol and SKK Migas had found a potential gas reservoir at 2,430 meters measured depth (MD).

Since Feb 10, Repsol has conducted a production test, with the preliminary result indicating gas flow of 45 million standard cubic feet per day (mmscfd). (ant)

President Joko Widodo hopes that land certificates that have been owned by the community are not converted because they can often harm the community itself.

"Do not let this certificate, be sold for big interests " said the President when giving a speech at the ceremony. Maulana Yudha Tigaraksa Field, Tangerang Regency, on Monday, February 18, 2019.

Previously, Isra, a farmer from Tangerang Regency, one of the recipients of the certificate who had the opportunity to advance to the stage when asked by the President, expressed his hopes for other certificate recipients regarding the issue of land conversion, especially agriculture.

Isra, who received a certificate on land in the form of 565 square meters of rice fields, continued, in his area, there was a tendency for farmers to sell productive agricultural land to be converted and sold to developers. He mentioned that almost half of the land in his area had shifted from its original function.

The Head of State then expressed his gratitude for the report given by Isra. The President also reminded that our country and future generations really need the role of farmers as producers of food for the needs of the people of Indonesia.

"Be careful, especially what is called a rice field. Don't turn it into houses. We need to eat, we need food, in the future for our children and grandchildren," the President said in response.

To note, in the handover event, certificates were immediately handed over to 5,000 land in Tangerang Regency, Banten Province. The certificates cover a total land area of ​​2,649,359 square meters spread in Balaraja, Cisoka, Jayanti, Rajeg, Solear, Sukamulya and Tigaraksa Districts.

Also present on this event, Minister of Agrarian and Spatial Planning / Head of the National Land Agency Sofyan Djalil,  Presidential Chief of Staff Moeldoko, Banten Governor Wahidin Halim, Banten Deputy Governor Andika Hazrumy, and Tangerang Regent Ahmed Zaki Iskandar.