Kuala Tanjung Port project secures $157m loan
Construction work on the new Kuala Tanjung Port is set to go with the joint venture operating firm of Prima Multi Terminal securing a IDR2.1trn ($157.1m) 10-year syndicated loan from state lenders Bank Mandiri, Bank Rakyat Indonesia (BRI) and Bank Negara Indonesia (BNI) to build the port in North Sumatra, local reports said.
Prima Multi Terminal is a joint venture firm of state port operator Pelindo I and state construction firms Pembangunan Perumahan and Waskita Karya.
Pelindo I president director Bambang Eka Cahyana said Kuala Tanjung Port would be developed as an industrial gateway that would integrate a port and industrial area.“
The construction progress has been quite fast since the ground-breaking on 27 January last year,” he said. The port is set to be developed in four phases, with the first being the multipurpose terminal, followed by a nearby industrial area, and requiring investment of IDR3trn.
The third and fourth phases are the development of a container port and residential area. Construction costs for the second and the third phases are estimated at IDR34trn.
Read more about:
IndonesiaAbout the Author
You May Also Like