Asia

Pelindo I allocates $2.69bn for maritime highway project

Jakarta: Indonesian state-run port operator Pelindo I will invest $2.69bn to develop ports in order to support the maritime highway program initiated by president Joko Widodo, Indonesian local media reported.

Pelindo I president director Bambang Eko Cahyono said the amount of investment will be covered by the company’s internal funds, bank loans and bonds.

Bambang said that within the next five years, Pelindo I would work on dozens of strategic projects, including expanding container terminals at Belawan seaport in Medan and deepening the sea channel at the same port.

In Kuala Tanjung, Pelindo I will develop a multipurpose terminal to support industrial zones in the area.

Pelindo I also plans to develop container terminals in Batam, in Kijang, Tanjung Pinang, and in Perawang in Pekanbaru, Riau.

“All of the development and expansion projects are to be started this year with a completion period of between one and two years,” said Bambang. [15/01/15]

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