Singapore-based Sembcorp Industries, through its subsidiary Sembcorp Development, has signed Memoranda of Understanding (MoUs) with Panbil Group subsidiaries to develop low-carbon industrial parks in Batam, Indonesia. Panbil Group, a Batam-based company specializing in construction and industrial real estate, is partnering on two key projects. The first is a 100-hectare park in Tembesi, a major industrial area known for electronics and pharmaceuticals. The second is a 500-hectare park on Tanjung Sauh, recently designated as a special economic zone for industrial use. These parks will support light to medium industries and energy-intensive sectors by providing renewable energy and sustainable solutions. According to Sembcorp Industries, these MOUs will not affect its earnings per share or net tangible assets per share for the fiscal year ending December 31, 2024.
Sembcorp, Panbil collaborate on eco-friendly Batam parks
Panbil Group’s expertise in construction and real estate plays a crucial role in developing these new Batam parks. (Image Credit: Pixabay)
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