Date: April 1, 2017
Source: Antara News
France Investing Rp6 Trillion in Mandalika as French firm Vinci Construction and ITDC sign investment agreement worth US$500 million for seven Mandalika Resort hotels and a Moto GP circuit .
Coordinating Minister for Maritime Affairs and Resources Luhut Panjaitan said a French state company Vinci Construction Grands Projects has signed a cooperation agreement with the state owned PT Indonesia Tourism Development Corporation (ITDC) on development of integrated tourism in the special economic zone (KEK) of Mandalika in the regency of Central Lombok, West Nusa Tenggara.
“The agreement was signed by Vinci Construction Grands Projets and ITDC in front of President Joko Widodo and French President Francois Hollande,” Luhut said here on Saturday.
The French President visited the country earlier this week.
Luhut said under the agreement the French state company would build hotels and Moto GP circuit at Mandalika, which is owned by state owned PT ITDC. The project will occupy a 120 hectare plot of land in a location that would be the next Nusa Dua, the world famous beach resort area in Bali designed and built by ITDC .
ITDC President Abdulbar Mansoer said the French company would invest Rp6 trillion in projects of seven hotels and Moto GP circuit in Mandalika.
The fund would also be used to build a convention hall to facilitate MICE tourists, he added. He said the construction of the projects is expected to take two years for completion in 2019.