Pelindo IV Eyes IDR 2 Trillion PMN

Pelindo IV Eyes IDR 2 Trillion PMN

JAKARTA – To boost its performance, PT Pelabuhan Indonesia (Pelindo) IV plans to develop some ports it manages. To support this expansion, the state-owned enterprise (BUMN) is looking for budget sources.

Pelindo IV intends to obtain budget from state capital injection (PMN) in 2015 State Budget (APBN). “We have proposed for IDR 2 trillion PMN,” Mulyono, Pelindo IV CEO, told Kontan last weekend.

According to him, the rest of additional budget needs for project can be fulfilled from the firm’s internal budget, bank loan, or bond issuance. Assuming the project takes three to five years, it means every year, Pelindo IV is expected to prepare IDR 1.2 trillion internal budget.

Meanwhile for bank loan or bond issuance, its number will be calculated to adjust it with capital injection budget agreement.

Pelindo IV will use the injected budget to expand the ports of Merauke, Sorong, Jayapura, Manokwari, Ambon, Ternate, Kendari, Bitung, and Tarakan. However, Mulyono has not detailed these projects. If the expansion projects are completed, it will ease commodity distribution in eastern Indonesia. “With easy access, cargo volume will also increase,” he added.

Even though port expansion is still a plan, Pelindo IV is optimistic to increase container traffic in several ports. Last year, they unloaded containers for 1.7 million TEUs and this year’s target increases to around 1.87 million TEUs. Along 2014, Pelindo IV has recorded revenue hike of IDR 2.2 trillion or a 21-percent hike in the same period last year. Meanwhile its profit also increases for 31% in the similar period into IDR 680 billion. (Kontan)