DP globe into Build Port at IndonesiaMarine Link #Aug_2019August 12, 2019
Maritime Activity Reports, Inc.
DP World and Indonesia’s leading conglomerate Maspion Group have signed two preliminary agreements to create a $1.2 billion container port and industrial logistics park in East Java.
It is the first joint venture of its kind in the Indonesian transportation sector involving a private sector partnership between an FDI partner and a private sector Indonesian company in Maspion, within the context of cooperation in maritime services with the state-owned maritime services operator Pelindo III.
Two term sheet agreements aim to create a modern, integrated container terminal and industrial logistics park, expected to play a vital role as a trade gateway for Eastern Java.
The project is expected to break ground later this year and commercial operations are being planned for the first half of 2022.
The vision is to support East Java’s infrastructure as part of President Joko Widodo’s programme to accelerate economic growth.
“Our business model and vision are aligned with President Jokowi’s commitment to continue his infrastructure focus and to make sure it is interconnected.
DP World ended its concession agreement with Pelindo 3 at the Surabaya Container Terminal in April 2019.
The new agreements confirm a long-term strategic partnership in the economic development of the country which has been growing rapidly in recent years.
Indonesia has the fastest rate of growth in electronic retail in South East Asia.
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