Indonesia: Major resort development planned in Padang

City administrators from Padang along with officials from the private holding company PT Amagedon are moving forward with plans for a $1 billion development project to include a 32-hectare beach resort that will be called Padang Bay City.

A new golf course is planned as part of the resort development. The project will also include construction of a transport tunnel connecting Pandang Bay City with nearby Bungus Beach as well as an expansion of the Port of Teluk Bayur.

Planning picked up steam after a collection of European investors, including groups from Germany and the Netherlands, recently committed approximately $500 million to the development efforts.

According to Fauzi Bahar, Padang's mayor, an additional 10 percent of the project will be financed through private sector investments.        

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