Pelindo II signs with Mitsui for Kalibaru development

Jakarta: State-run port operator Pelindo II has signed a shareholders agreement with Japan’s Mitsui & Co over plans to operate the first container terminal at Kalibaru in north Jakarta, laying to rest media speculation that the Japanese firm was looking to pull out of the memorandum of understanding it signed earlier this year.

The 1.5m teu capacity terminal, the first of three, is expected to start operations in mid-2015.

Under the shareholders’ agreement signed in Jakarta on Saturday, Pelindo II will own a 51% stake in the joint venture and the Japanese firm will hold the remaining 49%.  [21/04/14]

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