DP World to create US$1.2bn container port and logistics park in Indonesia
DP World and Indonesian conglomerate Maspion Group have agreed to create a US$1.2bn container port and industrial logistics park in East Java.
It is the first joint venture of its kind in the Indonesian transportation sector involving a private sector partnership between an FDI partner and a private sector Indonesian company, within the context of co-operation in maritime services with the state-owned maritime services operator Pelindo III.
Two term sheet agreements aim to create a modern, integrated container terminal and industrial logistics park, expected to play a vital role as a trade gateway for Eastern Java.
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