DP World and its partner CDQP has signed a deal with an Indonesian company Maspion for establishing an industrial logistics park and international container port in Gresik.
It is reported that the project will start in the Q3 of this year, with an investment of up to $1.2 billion. The project will drive Indonesia’s position as a key trade hub. According to the deal, DP World and CDPQ will form a joint venture company with Maspion. The development is the first of a kind for the Indonesian transportation segment involving a local company and an FDI partner.
DP World Maspion East Java will operate the new international container port with a design capacity of up to 3 million TEU. DP World and CDPQ will also establish a logistics park with Maspion. The park will be located adjacent to the Container Terminal covering an area of 110 hectares.
The park is expected to deliver world class trade platform for both local and international businesses to bolster economic growth and float employment opportunities.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, told the media, “The partnership with Maspion Group is an important development in our global ports and logistics network.
Indonesia is rapidly developing as one of the world’s most important economies. This project will create modern, efficient infrastructure, as well as an industrial zone that provides quality logistics. DP World’s business model and vision are aligned with President Jokowi’s vision to spur faster economic growth through trade infrastructure development, more investment opportunities, and job creation.”