South Korean POSCO, Rajawali Join Hands Build Property in Indonesia
- MAN Real Estate
- Sep 22, 2017
- 1 min read
Updated: Jul 10, 2019
Published Sep 22, 2017
JAKARTA (TheInsiderStories) – South Korean construction firm, POSCO Engineering & Construction Co. said it has broken ground for two high rises building in a central business district in Jakarta. Unit of South Korea’s top steelmaker POSCO said on Friday (22/9) the buildings will be constructed at a cost of about US$300 million for completion in 2020.
Rajawali Corpora, one of the largest conglomerates in Indonesia, has placed the order to construct a 27-story hotel and a 55-story residence and office tower. The company said, after completing the construction project, it will seek to win an order to build a nearby sewage treatment facility and work in the coal-fired power plant and battery sectors.
Previously, the Investment Coordinating Board identifies the interest of South Korean companies to invest in property sector in Bali and Tangerang, Banten, in Posco EFI Forum 2016 activities in South Korea.
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