Jakarta: State-run port operator Pelindo II plans to issue $1bn in bonds in the second quarter of next year to finance the construction of its three new ports in the country.
According to Richard Joost Lino, president of Pelindo II, the new ports will be built in Sorong, West Papua, and West Kalimantan.
“We will issue the bonds in April next year to reap $1bn in funds for financing the new ports’ construction, which will kick off in the third quarter next year,” Lino said, adding that Pelindo II aimed to finish the construction of all three ports in around two and a half years.
The construction of the three new ports is part of Pelindo II’s expansion program to support the government’s long-term plan to make the country a maritime axis. [03/11/14]