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Indonesia plans 3 new ports for 2015

November 3, 2014

Indonesia Ports Co. president-director RJ LinoIndonesia plans three new ports next year.

In the second quarter of 2015, state-owned port operator PT Pelabuhan Indonesia II, Indonesia Port Corp. (Pelindo II; IPC) plans to issue US$1 billion in bonds to finance the construction of three new ports in the country.

IPC president director Richard Joost Lino said that the new ports would be built in Tanjung Api-Api, South Sumatra; Sorong, West Papua (previously known as Irian Jaya); and West Kalimantan, according to the Jakarta Post.

Photo at right of RJ Lino from IPC.

Lino said: “We will issue the bonds in April [2015] to reap US$1 billion in funds for financing the new ports’ construction, which will kick off in the third quarter next year.”

He added that IPC aims to finish the construction of all three ports in about two years.

The construction is part of the government’s long-term plan to make the country a maritime axis.

Indonesian President Joko “Jokowi” Widodo, who was inaugurated on 20 October, has said that his administration is focused on developing the country’s maritime potential.

IPC/Pelindo II will seek additional project financing from external sources, through loans, bonds, or partnerships. Lino had previously said that Pelindo II would carry out road-show presentations in Europe.

Related news:

GlobalData analyst weighs in on Indonesia, 8 October 2014

New LNG terminal planned for Bali, 26 September 2014



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