APM Terminals to bid for Jakarta port project

APM Terminals, a unit of A P Moller-Maersk Group, is among the bidders for a US$1.29 billion port extension project in Jakarta, according to Indonesia’s transport ministry, reported Dow Jones Newswires.


"We will begin the tender process in the next few weeks. The value of the project has increased to$1.29 billion from our earlier estimate of $1.03 billion," said Kemal Heryandri, the secretary at the Directorate General of Sea Transport. "We will give 50 years of concession to the winner."


The ministry said last month that the project would allow the Jakarta port to handle an additional 1.2 million containers a year. The extension of Indonesia's busiest seaport is expected to start this year and to be completed by 2014.


Hans Ole Madsen, APM Terminals' vice-president for business development, said: "We will try to find a local partner for the tender. The figure is quite realistic, especially the length of the concession."


Indonesia needs billions of dollars to revamp its infrastructure and reach its full economic growth potential.
(Source:http://www.cargonewsasia.com)