DP World, CDPQ & Maspion to Build Port & Logistics Park in Gresik
Leading provider of smart supply chain logistics DP World, alongside its partner global investment group Caisse de dépôt et placement du Québec CDPQ, have
Leading provider of smart supply chain logistics DP World, alongside its partner global investment group Caisse de dépôt et placement du Québec CDPQ, have signed a long-term agreement with Indonesia’s leading conglomerate Maspion Group to start the construction of an international container port and industrial logistics park in Gresik. Work on the projects is expected to begin in the third quarter of 2021, with a total investment of up to USD 1.2 billion, enhancing East Java’s position as a key trade gateway for Indonesia.
Under the agreement, a joint venture company will be established between DP World and CDPQ’s global investment platform and Maspion Group. DP World Maspion East Java will become the sole operator of a modern international container port with design capacity of up to three million twenty-foot equivalent units. DP World and CDPQ will also work with Maspion Group to develop an integrated industrial and Logistics Park, adjacent to the Container Terminal, with an initial land area of 110 hectares with scope for future expansion. The Park will provide world-class trade environment for domestic and international businesses to help drive economic growth and create jobs.
Groundbreaking on the Container Terminal is expected to take place in 2021, with commercial operations expected to begin in 2023. The project will develop East Java’s infrastructure as part of President Joko Widodo’s vision to accelerate economic growth through his Indonesia Golden Generation 2045 strategy.