Foreign consortium to build US$1.5 bln resort area in Indonesia

Jakarta (ANTARA News/Asia Pulse)

A consortium of Singaporean and Malaysian companies is looking to build a new resort area in the regency of Bintan, at an estimated cost of US$1.5 billion.

Bintan Regent Ansar Ahmad, who did not disclose the names of the companies, said the consortium is expected to start work to build the project in 2007.

Ahmad said land is available for the project, adding 17,000 hectares of land have been cleared and so far only 3,000 hectares have been used by seven hotels and three golf courses.