DP World and CPDQ to develop new container port and logistics park in Indonesia
DP World and investment group Caisse de dépôt et placement du Québec (CDPQ) have signed a long-term agreement with Indonesian conglomerate Maspion Group to start the construction of a container port and industrial logistics park in Gresik, nearby Surabaya in East Java.
Work on the projects is expected to begin in the third quarter of 2021, with a total investment of up to US$1.2bn, enhancing East Java’s position as a key trade gateway for Indonesia.
Under the agreement, a joint venture company will be established between DP World and CDPQ’s global investment platform and Maspion Group, the first of its kind in the Indonesian transportation sector involving a foreign direct investor (FDI) partner and a private sector Indonesian company.
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