JAKARTA. PT Indah Kiat Pulp & Paper Tbk (INKP) has signed a Sale and Purchase Binding Agreement over a piece of land in Karawang for the construction of a factory.

Heri Santoso, Director of INKP, mentioned that said agreement had been signed by the company along with PT Persada Kharisma Perdana (PKP) and PT Paramacipta Intinusa (PCI). For the record, PKP is a selling party of a piece of land of 2.08 million square metres, while PCI is the one selling a piece of land of 1.13 million square metres to the company.

“This agreement signing does not affect the company’s condition,” Santoso stated in the official disclosure.

According to IDNFinancials data, INKP has announced the construction plan of its latest plant in Karawang since earlier this year. The company has prepared investment worth USD 3.63 billion for this new factory construction.

In the future, with this factory operating, the company will gain extra production capacity of 3.9 million tons per year. (KR/ZH)