$1 billion port project for Indonesia


In the second quarter of 2015, state-owned port operator PT Pelabuhan Indonesia II (Pelindo II) plans to issue US$1 billion in bonds to finance the construction of three new ports in the country.

Pelindo II president director Richard Joost Lino said that the new ports would be built in South Sumatra in Sorong, Tanjung Api-Api, West Papua, and in West Kalimantan, according to the Jakarta Post.

Lino said: “We will issue the bonds in April [next year] to reap US$1 billion in funds for financing the new ports’ construction, which will kick off in the third quarter next year.”

Lino went on to say that Pelindo II aims to finish the construction of all three ports in around two years.

The construction is part of Pelindo II’s expansion program to support the government’s long-term plan to make the country a maritime axis.

Indonesian President Joko “Jokowi” Widodo has said that his administration is focusing on developing the country’s maritime potential.

In order to finance the projects, Pelindo II aims to seek additional funding from external sources through loans, bonds or partnerships.

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