Indonesia: IPC to Invest Big in New Priok Port
Indonesia Port Corporation II (IPC), Indonesia’s largest port operator, has announced its investment of approximately US$2.47 billion to kick-start the development of Kalibaru Port (New Priok), an extension of the Tanjung Priok in North Jakarta, Port Technology reports.
The first phase of the project will include the installation of $1.38 billion worth of container terminal infrastructure and related equipment, while $730 million will be made available to construct the port’s new petroleum product terminal.
This development of the port may also be funded by partnerships and investments from major shipping and port operators as well as loans from national and international lenders.
Upon completion New Priok will more than triple the annual capacity of Tanjung Priok from 5 million TEU to 18 million TEU when fully completed in 2023.
Dredging Today Staff, April 24, 2012;