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DP World inks US$1.2b pact to build port facilities in Indonesia
来源：Shipping News Headlines 编辑：编辑部 发布：2021/03/11 10:18:31
Global port operator DP World has partnered with Canada's Quebec City headquartered institutional investor Caisse de depot et placement du Quebec (CDPQ) to sign a US$1.2 billion agreement with Indonesia's Maspion Group to construct an international container port and industrial logistics park in Gresik in Indonesia.
Work on the projects is scheduled to begin in Q3 2020, and upon completion, they are expected to enhance East Java's position as a key trading gateway for Indonesia.
A joint venture company called DP World Maspion East Java will be established between DP World, CDPQ and Maspion Group, the first of its kind in the Indonesian transportation sector involving a foreign direct investor and a private sector Indonesian company.
DP World Maspion East Java will become the sole operator of the international container port with design capacity of up to three million TEU.
DP World and CDPQ will also work with Maspion Group to develop an integrated industrial and logistics park, adjacent to the container terminal, with an initial land area of 110 hectares. Commercial operations from the new container terminal are expected to begin in 2023, reports Dubai's Gulf Business.
"DP World's business model and vision are aligned with President Jokowi's vision to spur faster economic growth through trade infrastructure development, more investment opportunities, and job creation," said Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World.
Since its launch four years ago, the $8.2 billion DP World-CDPQ platform has invested in 10 port terminals globally and across various stages of the asset life cycle.
Work on the projects is scheduled to begin in Q3 2020, and upon completion, they are expected to enhance East Java's position as a key trading gateway for Indonesia.
A joint venture company called DP World Maspion East Java will be established between DP World, CDPQ and Maspion Group, the first of its kind in the Indonesian transportation sector involving a foreign direct investor and a private sector Indonesian company.
DP World Maspion East Java will become the sole operator of the international container port with design capacity of up to three million TEU.
DP World and CDPQ will also work with Maspion Group to develop an integrated industrial and logistics park, adjacent to the container terminal, with an initial land area of 110 hectares. Commercial operations from the new container terminal are expected to begin in 2023, reports Dubai's Gulf Business.
"DP World's business model and vision are aligned with President Jokowi's vision to spur faster economic growth through trade infrastructure development, more investment opportunities, and job creation," said Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World.
Since its launch four years ago, the $8.2 billion DP World-CDPQ platform has invested in 10 port terminals globally and across various stages of the asset life cycle.