DP World and partner Caisse de dépôt et placement du Québec (CDPQ) have signed a long-term agreement with Indonesia’s Maspion Group to construct an international container port and industrial logistics park in Indonesia..
The project, located in Gresik, East Java, will involve a total investment of up to $1.2 billion.
The partners will form a joint venture company with Maspion Group, marking the first joint vneture in the Indonesian transportation sector involving a foreign direct investor partner and a private sector Indonesian company.
The new entity, known as DP World Maspion East Java, will be the sole operator of a modern international container port. DP World, CDPQ and Maspion Group will also develop an integrated industrial and logistics park, adjacent to the container terminal, with an initial land area of 110 hectares (271 acres) with scope for future expansion.
“Indonesia is rapidly developing as one of the world's most important economie
