Thursday, August 7, 2014
Indonesia's Pelindo II secures $1.25B loan for port expansion
State-owned Indonesia Port Corporation, also known as Pelindo II, announced plans to raise a syndicated loan of $1.25 billion to fund the expansion of North Jakarta Port.
"Hopefully the government will grant the permission by this week," said R.J. Lino, Pelindo II's president director, adding that the company expects to sign the loan agreement next week.
Lino said the deal involves six lenders with Deutsche Bank as the lead arranger of the syndicate.
The Pelindo II expansion will focus on the construction of Kalibaru Port, also known as New Tanjung Priok Port. The first phase of Kalibaru Port construction should begin operations by 2017, adding 4.5 million TEUs of capacity to the existing Tanjung Priok Port.
The company's $1.51 billion investment is expected to increase the port's existing capacity by 300 percent by 2023.
For more of the Jakarta Post story: thejakartapost.com
More Newswire stories
Egypt to build new $4B Suez Canal
U.S. regulators approve Hapag-Lloyd/CSAV merger
Army Corps to clear path for barges on the Mississippi
2 dead, 100 missing after ferry sinks in Bangladesh
Home | The Magazine | Conferences | Port Handbooks | Newswire | Advertise | Ocean Schedules | Contact
CBN Archives | About CBN | Subscribe to CBN | Marine Fuels Conference | Southeast Freight Conference | Heartland Shippers’ Conference | Port Productivity Conference | Pacific Northwest Ports Handbook
Golden Gates Ports Handbook | Southern California Ports Handbook | Buy Handbooks | Subscirbe to Newswire | Newswire Archives | Upload Files