Java, Sumatra ports to get $35bn funding
Java and Sumatra will receive the bulk of funding for 40 infrastructure projects worth IDR337trn ($34.8bn) under the next phase of the Indonesian government’s Master Plan for the Acceleration and Expansion of Indonesia’s Economic Development (MP3EI) over the next four years from 2014 to 2017.
The MP3EI is a 15-year, IDR4,000trn infrastructure development blueprint.
Among these will be the development of Cilamaya port in Karawang, West Java, which is expected to cost IDR40.3trn and is slated to begin construction in 2017. In North Sumatra, there are requirements for a budget of IDR27trn to build Kuala Tanjung port, while in North Sulawesi, costs for Bitung international port, will come up to IDR31trn.
Last year, eight projects under the MP3EI plan with a total investment value of $15.8bn were inaugurated.
Source: http://www.hellenicshippingnews.com/
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