SBY to give Treasure Bay new name
The Jakarta Post, Jakarta | Thu, 02/24/2011 1:53 PM
President Susilo Bambang Yudhoyono is scheduled to announce a new name for Treasure Bay holiday resort in Bintan Island on Saturday, the Bintan regent says.
"Nobody knows what President Yudhoyono will call Treasure Bay yet," Bintan Regent Ansar Ahmad said Thursday as quoted by antaranews.com.
He said the President would also officiate the first construction phase of the project.
Treasure Bay Bintan integrated tourist resort is being developed in stages by a Malaysian consortium, Landmark Holdings Sdn Bhd, with investments worth Rp 24 trillion (US$2.66 billion). The first phase will cost an estimated US$425 million.
Ansar said there would not be any gambling facility at the resort.
