PT AKR Corporindo Tbk (AKRA), as the majority shareholder of Java Integrated Industrial and Ports Estate (JIIPE) Gresik, has the potential to earn a recurring income of around US$30 million to US$40 million per year from PT Freeport Indonesia's (PTFI) smelter operation in the Special Economic Zone.

Director and Corporate Secretary of AKR Corporindo Suresh Vembu said 14 companies are operating in AKRA's SEZ, and the majority of their income comes from the distribution of fuel and chemicals.

Freeport's arrival to build a smelter at JIIPE was confirmed after PTFI, and PT Chiyoda International Indonesia (PTCII) officially signed an EPC contract worth US$2.7 billion to build a Copper Smelter Plant and Precious Metal Refinery at JIIPE.

"JIIPE will generate rental income from 103 ha of land for the Smelter and another 40-50 ha for the Laydown area. In addition, the project will generate recurring income from port facilities, electricity, gas,