PT. AKR Corporindo, Tbk

JIIPE Update : PT XINYI GLASS INDONESIA signs Binding Land Sale and Purchase Agreement for building Glass Production Factory in JIIPE SEZ

August 25, 2022

JAKARTA, 25 August 2022 

This announcement is made by the Board of Directors of PT AKR Corporindo Tbk on a voluntary basis relating to the signing of Binding Sale Purchase Agreement by PT XINYI GLASS INDONESIA (XINYI) with PT Berkah Manyar Sejahtera (BKMS), a Joint Venture company between PT AKR Corporindo Tbk and PELINDO, for acquisition of land for the glass production plant in JIIPE, Gresik, Indonesia

On 25th August 2022, a Binding Sale and Purchase Agreement (Agreement) was entered into between XINYI and BKMS. Pursuant to the Agreement, BKMS has agreed to sell, and XINYI has agreed to purchase a large lot of industrial land for the construction of XINYI Glass production plant in JIIPE Special Economic Zone (SEZ JIIPE). 

XINYI also signed agreements with BKMS for cooperation to provide various utilities including electricity, water, natural gas, sewage treatment, telecommunication and internet facilities and other infrastructure and facilities to support the construction and operation of XINYI glass production facilities in SEZ JIIPE; XINYI has  signed MOU with PT Berlian Manyar Sejahtera (BMS) which operates the deep sea port facilities in SEZ JIIPE for the high quality port  and terminal facilities required by XINYI for its glass production facilities

 Ceremony signing of Binding SPA and other documents between PT BKMS and PT XINYI GLASS INDONESIA

Xinyi Glass Holdings Ltd (Xinyi Glass) is a leading manufacturer of glass products including automobile glass, energy-saving e-glass, float glass, and other glass products at its production complexes in People’s Republic of China and has invested overseas. XINYI believes the new glass production capacity to be constructed in JIIPE, is a major strategic step for the group to diversify its production base and supply the fast-growing demand for glass products in Indonesia and also in other countries overseas.

Welcoming XINYI, Mr Bambang Soetiono, President Director of BKMS said “We are extremely happy to sign the Land Sale and Purchase Agreements with PT XINYI GLASS INDONESIA for the glass production facilities in JIIPE.  XINYI is a prestigious foreign investor who will bring significant benefits including much needed foreign investment and also world class products which would be required by various industries in Indonesia. JIIPE Special Economic Zone will provide all required facilities and assistance to XINYI to construct and commission the Glass production facilities and provide world class utilities and facilities for XINYI’s  production activities in JIIPE Special Economic Zone ”.

“We thank our shareholders PT AKR Corporindo Tbk and Pelindo for all the support and guidance given to us to develop JIIPE SEZ and provide world class facilities to our customers” added Mr Bambang.

Corporate Secretary
PT AKR Corporindo Tbk