President director Richard Lino said the company expected to sign the loan agreement next week, pending the government’s approval. “Hopefully the government will grant the permission by this week,” Lino said.
He added the deal would involve six lenders with Deutsche Bank as the lead arranger.The company expects the first phase of its Kalibaru Port construction to begin operations by 2017, adding 4.5m teu of capacity to the existing Tanjung Priok Port. Pelindo has partnered with Mitsui & Co to operate the first container terminal at Kalibaru Port. The construction of the first container terminal will be divided into two stages. The first is to construct a terminal with a length of 400 m that will be fully completed by the end of this year, and the second will be to extend the length of the terminal to 800 m, which is expected to be completed in May next year, according to Lino.
“We estimate the construction of the first container terminal will be accomplished before year end and will begin operations in the middle of 2015,” Lino said. The first container terminal will cost IDR4.5trn ($382.6m), which will be fully financed by Mitsui.
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