PT PI II and PP to spend Rp 1.2t on new port

Nani Afrida, The Jakarta Post, Jakarta | Fri, 04/09/2010 7:02 PM

State seaport operator PT Pelabuhan Indonesia (PI) II, in cooperation with state housing developer PT Pembangunan Perumahan (PP), will begin the construction of a new port in Kalibaru, North, Jakarta, in the third quarter.

The port and all necessary supporting infrastructure will require Rp 1.2 trillion (US$133,000,000) in investment, and its construction is expected to conclude next year.

“We are still discussing stake ownership, however PT PI will own the majority of the stake, probably more than 50 percent,” PT PI II president director R.J Lino said in Jakarta on Friday.

PT PP president director Musyanif said that it would only take 20 percent of the total stake ownership in the joint venture, saying it still had many investment plans in other infrastructure sectors such as toll roads and power plants.