Reuters reported that Kawasan Berikat Nusantara, an Indonesian state owned logistics and industrial park developer, plans to seek a strategic investor to develop an up to IDR 2 trillion new seaport in north Jakarta.

Mr Irwandi Bermawi corporate secretary of KBN said that several foreign firms, including South Korea's POSCO, Hong Kong's Kerry Logistics and Singapore's Keppel Corporation, had approached the company to become the partner and work on the 1,450 hectares of new port in Marunda area in North Jakarta.

Mr Bermawi said that "The port would help to take some of the burden in the Jakarta's main port, Tanjung Priok, which has operations at its full capacity."

A spokesman for POSCO Engineering & Construction, a construction arm of POSCO, said should it be given an opportunity, it may participate as it is seeking to boost overseas orders. He said that KBN needs around IDR 1 to IDR 2 trillion to build infrastructures and facilities in the new seaport, which will be for the first phase of the port development.

The project is targeted to kick off in 2015, as a part of the proposed Tanjung Priok Kalibaru Marunda port hub of Jakarta.

Investors and rating agencies have warned that Indonesia's poor infrastructure development, including seaport, roads and airport, will be a deterrent to attracting stable long term foreign direct investment.

(Sourced from www.reuters.com)