"The resort will have a five-star hotel and many other tourist facilities," PPA president director Boyke Mukizat said following the signing of a Master Restructuring Agreement (MRA) between Tuban Petro Group and state oil company Pertamina at the PPA office in Jakarta Friday.
Boyke said the investment for building the resort may reach Rp200 billion.
PPA and Garuda agreed to invite investors to build and run the resort.
"We are looking for investors to fund the building of the project. We are also wishing to establish a partnership with those experienced in running a resort," he said.
Rp100 billion will be obtained from a bank loan, and the remaining Rp100 billion jointly by PPA, Garuda and investors.
He said that in March 2012 the overall study of the project had been completed and to be followed by the making of a joint agreement.
"If everything goes as planned, the project located in the area where the film `Laskar Pelangi` is made hopefully may start operating in 2014," he said.
Boyke added that the cooperation between PPA and Garuda is part of a program of handling non-productive assets of state enterprises.
"We have the task of running idle assets of state enterprises", he said.
PPA is currently verifying seven state enterprise assets which will be run, namely Pertamina, PT Pos Indonesia, state railway company PT Kereta Api Indonesia, logistic board Perum Bulog, PTPN III and PTPN VIII.
(Uu.R017/H-NG/H-YH)
Editor: Priyambodo RH
Copyright © ANTARA 2011
