Dubai’s DP World to invest $1.2bn in Indonesia port, logistics park

Dubai’s DP World to invest $1.2bn in Indonesia port, logistics park

Dubai-based DP World, alongside its partner Caisse de dépôt et placement du Québec (CDPQ), a global investment group, on Saturday signed a deal to invest $1.2 billion in a container port and industrial logistics park in Indonesia.

The long-term agreement has been signed with Indonesian conglomerate Maspion Group to start construction of the projects in Gresik.

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Work on the projects is expected to begin in the third quarter of 2021, with a total investment of up to $1.2 billion, enhancing East Java's position as a key trade gateway for Indonesia, a statement said.

Under the agreement, a joint venture company will be established between DP World and CDPQ's global investment platform and Maspion Group, the first of its kind in the Indonesian transportation sector involving a foreign direct investor partner and a private sector Indonesian company.

DP World Maspion East Java will become the sole operator of the international container port with design capacity of up to three million twenty-foot equivalent units (TEU).

DP World and CDPQ said they will also work with Maspion Group to develop an integrated industrial and logistics park, adjacent to the container terminal, with an