Wednesday, June 27, 2012

China Merchants to develop $2 bil trans-ship terminal in Indonesia

China Merchants Holdings will reportedly sign a memorandum of understanding in July with Indonesia's state-owned port operator Pelindo II to develop a $ 2 billion container and iron-ore trans-shipment terminal Tanjung Sawuh, Batam.

China Merchants would be the majority investor in the port project that would have capacity for 4 million TEUs and be able to process 100 million metric tons of iron per year, according to a report by Marketwatch.

Other port projects are soon to launch in Indonesia as well, including construction of a port later this year in Sorong, West Papua, that will have initial capacity of 700,000 TEUs and in July, construction of the first phase of the Kalibaru Port in North Jakarta, is slated to commence that would add 4.5 million TEUs-worth of capacity next to that country's busiest seaport.

For the Marketwatch source: www.marketwatch.com

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