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Sign in Sign up for a FREE subscriptionAstra, Hongkong Land and LOGOS establish JV to manage and develop modern logistics warehouses
PT Astra International Tbk (Astra) and Hongkong Land (HKL) have announced a joint venture with LOGOS SE Asia Pte Ltd (LOGOS) in the management and development of modern logistics warehouses in Indonesia. Astra and Hongkong Land, through PT Astra Land Indonesia (ALI), will establish a joint venture company with LOGOS to manage modern logistics warehouses in Indonesia, with an initial focus in the Greater Jakarta (Jabodetabek) area.
“The establishment of this joint venture with LOGOS demonstrates our confidence in the logistics sector. We wish to expand the availability of modern warehouse facilities to support the logistics sector in Indonesia and to contribute to Indonesia’s national economic growth,” said Djony Bunarto Tjondro, president director of Astra.
Indonesia’s freight and logistics market, in which modern warehouse is a part of, is estimated to increase from $81.3 billion in 2020 to $138.04 billion by 2026. The increase is being driven by the growth of
