Maspion Group, Indonesia’s leading conglomerate, has recenlty signed a long-term agreement with DP World, the leading provider of smart supply chain logistics and its partner Caisse de dépôt et placement du Québec (CDPQ), a global investment group, to build an international container port and industrial logistics park in Gresik, East Java. The project is estimated to start in the third quarter of 2021, with a total investment of up to USD 1.2 billion. Groundbreaking of the Container Terminal is set to take place in 2021, with commercial operation to begin in 2023.
Under the agreement, DP World Maspion East Java will become the sole operator of a modern container port with design capacity of up to 3 million twenty-foot equivalent units (TEU). DP World and CDPQ will work together with Maspion Group to build an integrated industrial and logistics park, adjacent to the Container Terminal, with an initial land area of 110 hectares. There will be a scope for future expansion.
The project will support President Joko Widodo’s vision to accelerate economic growth in Indonesia and enhance East Java’s position as a key trade gateway for Indonesia.
(Sources: PR Newswire; Gulf Business; Container Management)