SSIA Ind Est (IFC-38964)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Specific Location
Cikopo-Palimanan Toll Road, Jakarta
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 29, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
PT. SURYA SEMESTA INTERNUSA TBK.
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 57.15 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 57.15 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 262.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 8, 2018

Disclosed by Bank Apr 27, 2018


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Project Description

The project is a loan to PT Surya Semesta Internusa to fund the Phase I development of the new Subang Industrial Estate (SIE) in Subang, West Java, The whole SIE development may be expanded to up to 2,000 hectares through future phases that are not part of this IFC investment.

SIE Phase I includes the following stages: (i) land acquisition on willing buyer-willing seller basis; (ii) land clearance and site preparation; (ii) design and construction of supporting infrastructure including waste water treatment facilities, internal road networks and basic utilities connections (sewage, electricity, etc); (iv) sell or lease pre-designated plots of land to commercial customers, which are expected to be light to medium industry (e.g. manufacturing) by internationally and local recognized firms; and (v) construction of a few SCS buildings, including residential blocks.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

SSIA has been listed on the Indonesia Stock Exchange since 1997. Approximately 69% of the shares of SSIA are held by public. The control of SSIA is under PT. Arman Investment Utama, which holds around 8% of the shares.

Contact Information

Project Contact: Wilson Effendy
Director of Business Development, PT. Surya Semesta Internusa Tbk.
Telephone No.: +62 21 526 2121
Email Address: ir@suryainternusa.com
Office Address: Tempo Scan Tower, 20th Floor JL. H.R. Rasuna Said Kav. 3-4 Kuningan, Jakarta 12950, Indonesia
Website: www.suryainternusa.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/