Indonesia Wealth Fund and DP World commit to $7.5 billion for nation’s ports

The Indonesia Investment Authority (INA) has signed a strategic alliance agreement with DP World to enhance the maritime and port sector in Indonesia through investing $7.5 billion into its seaport facilities.

The partnership is set to improve the operation of ports, reduce logistics costs, and advance national competitiveness.

As per the agreement, DP World will bring its world-class technology and best practices to develop new port terminals and assets, enabling greater shipping efficiency and enhancing inter-island and international connectivity.

“Indonesia’s maritime and port sector is key to support trade and consumption across the archipelago, and this collaboration with DP World will enable us to resolve issues of high logistics costs and port inefficiencies,” said Ridha Wirakusumah, Chief Executive Officer of the INA.

“Following INA’s rigorous partner selection process, we are confident that DP World can work well with us to create a strong domestic shipping network and add value to investors, businesses and employees. We would like to extend our gratitude to the Ministry of State-Owned Enterprises, Ministry of Finance, Ministry of Transportation, other government agencies and Pelindo for their strong support.”

Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, added “DP World recognises the vast potential of Indonesia as one of the fastest-growing economies in the world, as well as projects undertaken by the government to improve port facilities. Through our partnership with INA, we are committed to supporting national initiatives that create value and bring in expertise to modernise the Indonesian maritime infrastructure.”

Glen Hilton, CEO and Managing Director of DP World Asia Pacific and Australasia also commented “Together with INA, we will focus on building mutually beneficial relationships with local governments and stakeholders to create value across Indonesia’s supply chain. By combining our experience and disruptive technology with INA’s mandate to maximise economic impact, we are optimistic that we can elevate Indonesia’s supply chain performance.”

DP World has also recently signed an agreement with OASIS Group to set up a new distribution at London Gateway. Announced in November 2021, the agreement will see OASIS Group take on a long-term lease for a 108,973 square-foot warehouse which it will use to provide information management services to its clients across the UK and Europe.

https://www.porttechnology.org/news/indonesia-wealth-fund-and-dp-world-commit-to-7-5-billion-for-nations-ports/