JAKARTA. Hyundai Motors Group is reported to have purchased about 70-80 hectares (ha) of land owned by PT Puradelta Lestari Tbk (DMAS) in one of the industrial estates in Cikarang for the construction of its factory.
Robin Sutanto, an analyst at Mandiri Sekuritas, said the purchase has been confirmed, although the sales and purchase agreement has not been signed. "We also heard that Hyundai has opened a tender to build its first facility in Cikarang," Sutanto said in writing on Friday (15/11) today.
Meanwhile, DMAS, said Sutanto, may continue to sell its land to a number of other companies. Around 30-40 ha of land are planned to be sold to a foreign e-commerce business, 60 ha for two Food & Beverage (F&B) companies, 25-40 ha for automotive companies other than Hyundai, and 8 ha for a data centre. (KR/AR)