Singapore investment company Gallant Venture is tying up with flag carrier PT Garuda Indonesia to develop Bintan Island.
The plan is to turn Bintan Island into a tourism and aviation hub.
Both companies signed a memorandum of understanding at the Singapore Airshow 2014 on Tuesday.
As part of the partnership, Garuda Indonesia and Gallant Venture will jointly develop Bintan Island as the airline's new hub.
This includes a dedicated airport for Garuda and its subsidiaries, as well as a new centre for aircraft maintenance.
Garuda Indonesia will then promote Bintan as an international tourism destination, and help develop its connectivity both outbound and inbound.
The first phase will include the development of one runway and one terminal.
In a joint statement, both companies said Bintan Airport has enough land to develop into a multi-terminal airport with two runways.
The airport terminal will also be connected to a ferry terminal which will service Singapore and Batam.
Gallant Venture -- through its subsidiary company -- currently already operates ferry services between Bintan and Singapore’s Tanah Merah Ferry Terminal.
Gallant Venture's CEO Mr Eugene Park said in the joint statement: "Garuda Indonesia's operations and the aerospace industrial park in Bintan will boost the economy here and create substantial job opportunities as well as upgrading skill sets and standard of living for the people in the Riau Islands."
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