Sembcorp Industries, through its wholly-owned subsidiary Sembcorp Development, has signed Memoranda of Understanding (MOUs) with two subsidiaries of Panbil Group to jointly develop low-carbon industrial parks in Batam, Indonesia. Panbil Group, a Batam-based developer, operates across construction, industrial real estate, utilities, and hospitality sectors.
The initial projects under this collaboration include a 100-hectare industrial park in Tembesi, within the Muka Kuning area—an established industrial zone in Batam known for its electronics, electrical, precision engineering, and pharmaceutical industries. The second project involves a 500-hectare industrial park on Tanjung Sauh, one of Batam’s smaller islands, which has recently received special economic zone (SEZ) status for industrial development.
These projects aim to support light to medium industries and energy-intensive businesses, including advanced manufacturing and data centers, by providing renewable energy and sustainable circular solutions.
Lee Ark Boon, CEO of Sembcorp Development, remarked, “Our collaboration with Panbil leverages their strong development track record in Batam and Sembcorp’s expertise in energy and integrated urban solutions. These low-carbon industrial parks will cater to a new generation of businesses seeking green solutions and enhance the Singapore-Batam partnership.”
Johannes Kennedy Aritonang, Chairman of Panbil Group, added, “This partnership with Sembcorp comes at a strategic moment. Batam’s 7% economic growth in 2023 surpasses the national average. With its growing infrastructure, Batam is well-positioned to drive advanced manufacturing synergies between Singapore and Indonesia. This collaboration will support emerging economy industries.”
The MOUs are not expected to significantly impact Sembcorp’s earnings per share or net tangible assets per share for the financial year ending December 31, 2024.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
