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MoU signed for Indonesian port development

Sungjee Construction Co. announced on March 15 that it has signed a memorandum of understanding (MOU) with Indonesian state-owned port company PT. Pelabuhan Indonesia 1 (Persero) for joint development of Tanjung Sauh Container Port.

The project calls for building a container port on Batam Island in the southeastern part of Indonesia. The port is scheduled to start commercial operation in 2022. The total project cost is estimated at about US$2 billion.

Indonesia plans to develop Tanjung Sauh Container Port as the biggest logistics hub in Southeast Asia. It will make a massive investment to improve the port’s infrastructure and grow it into an industrial center.

Read more on Business Korea.

 

Source: Business Korea

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