Sponsored By

Pelindo II needs $1.1bn for Indonesian port expansion plan

Indonesian state-owned port operator Pelindo II, apparently putting more feelers out to the financial market, says it needs IDR14trn ($1.1bn) to build and develop five ports across Indonesia by 2019, according to local reports.

Vincent Wee, Hong Kong and South East Asia Correspondent

February 25, 2015

1 Min Read
Kalyakan - stock.adobe.com

Three ports, Sorong, Kijing and Tanjung Carat are set to begin their development work this year while development of two other ports, in Bojonegara and Cirebon, is scheduled to start in 2016.

Pelindo II said it would raise funding from internal cash, bank loans, bonds and investors and all but ruled out any capital injection from the government.

“We cannot provide details [of the funding source] now, but we are not relying on any government assistance,” Richard Lino president director of Pelindo II was quoted as saying.

Read more about:

Indonesia

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like