Dubai-headquartered terminal operator DP World is reentering Indonesia in partnership with Canadian pension fund, Caisse de dépôt et placement du Québec (CDPQ).
The pair have signed an agreement with Indonesian conglomerate Maspion Group to build a $1.2bn international container port and logistics park in the Indonesian city of Gresik, near the East Javan port of Surabaya.
Construction is expected to begin in the third quarter of 2021, with commercial operations scheduled to start in 2023. DP World Maspion East Java will have a design capacity of up to 3m teu.
DP World did have another facility in Surabaya, a legacy from its takeover of P&O Ports, but it decided to let this terminal concession go in 2019.
DP World and CDPQ have jointly invested in 10 port terminals around the world through their $8.2bn investment platform launched four years ago.
Source: SPLASH247.COM
