State-owned operator PT Pelabuhan Indonesia (Pelindo) I has established a joint-venture company with two other state-owned enterprises (SOEs) as it moves ahead with expansion plans for Kuala Tanjung Port in North Sumatra.
PT Prima Multi Terminal was created by Pelindo I with construction firms PT Pembangunan Perumahan (PTPP) and PT Waskita Karya on September 26. The JV was approved by the Legal and Human Rights Ministry on September 29.
The newly formed firm has a basic capital of IDR580 billion (US$47.7 million) and paid-in capital of IDR174 billion. The breakdown of shares is Pelindo I with a 55 percent stake, PTPP with a 30 percent share, and Waskita Karya with 15 percent.
Prima Multi Terminal, located in Kuala Tanjung, Medan, will build a new terminal in Kuala Tanjung Port and handle its operations once completed. The expansion plan is part of a government strategy to raise capacity at the port in anticipation of a traffic surge in the near future.
Pelindo I expects construction of the new terminal to start early next year and targets its completion by the first half of 2016.
The new facility is expected to increase capacity at the port to 25 million 20-foot-equivalent units (TEUs) by the end of 2030. At present, the port reportedly has a handling capacity of 900,000 TEUs, but needs to expand as a number of multinational companies nearby have begun setting up more oleochemical plants.
Photo: Decoelie
