PT Pelabuhan Indonesia II (Pelindo II), a state-owned port operator, is planning to issue USD 1 billion in bonds in April 2015 to secure financing for the construction of three new ports in Indonesia, The Jakarta Post reports.
Richard Joost Lino, the company’s president director, said the company will build the ports in Tanjung Api-Api, South Sumatra, in Sorong, West Papua, and in West Kalimantan. The construction of the new ports is expected to start in the third quarter of 2015. Lino said that the ports should be operational by the end of 2018.
“The new ports in West Kalimantan and Sorong would cost around USD 248.4 million,” Lino said to The Jakarta Post, with the remainder of the funds directed towards building the Tanjung Api-Api port.
The plan is a part of the port operator’s previously announced platform to build 22 sea ports throughout Indonesia.
“We are targeting to build or develop 22 seaports from Belawan to Sorong within five years, under a budget of around USD 5 billion to USD 6 billion,” Lino said earlier.
The projects will be financed through external funds such as bonds, partnerships and loans.
World Maritime News Staff