Indonesia Port Corporation II (IPC), Indonesia's largest port operator, today announced its investment of approximately US$2.47 billion to kick-start the development of Kalibaru Port (New Priok), an extension of the Tanjung Priok in North Jakarta, Indonesia, Bernama reports.
This follows from IPC's official receipt of the Presidential Regulation on April 5, 2012 to develop New Priok, and preparations for this mega development are already underway to begin work onsite.
In a statement, IPC said the investment for the first phase of development includes US$1.38 billion for container terminal infrastructure and equipment, US$730 million for the petroleum product terminal, US$305 million for toll roads, an industrial area and a power station, with the remaining US$50 million for other services.
It said development of the port may also be funded by partnerships and investments from major shipping and port operators as well as loans from national and international lenders.
Already Indonesia's largest port operator, IPC's New Priok will accommodate up to 13 million twenty-foot equivalent units (TEUs) of containers annually, more than tripling the capacity of Tanjung Priok to over 18 million TEUs when fully completed in 2023.
This follows from IPC's official receipt of the Presidential Regulation on April 5, 2012 to develop New Priok, and preparations for this mega development are already underway to begin work onsite.
In a statement, IPC said the investment for the first phase of development includes US$1.38 billion for container terminal infrastructure and equipment, US$730 million for the petroleum product terminal, US$305 million for toll roads, an industrial area and a power station, with the remaining US$50 million for other services.
It said development of the port may also be funded by partnerships and investments from major shipping and port operators as well as loans from national and international lenders.
Already Indonesia's largest port operator, IPC's New Priok will accommodate up to 13 million twenty-foot equivalent units (TEUs) of containers annually, more than tripling the capacity of Tanjung Priok to over 18 million TEUs when fully completed in 2023.