Japanese to Fund Java Port

• 22 July 2016
• Local News
• 1750 Views

“PT Sans””>The Japanese and Indonesian governments have approved in principle a funding deal for a USD3 billion deepwater port on the northern coast of Java, Indonesia.

mso-bidi-font-family:”PT Sans”;color:black”>Following initial talks between the nations’ presidents in November 2015 the mega-port is set to be underwritten by low-interest USD2.4 billion Japanese loan. The remaining USD600 million which will cover land procurement and road construction will be contributed by the Indonesian government.

mso-bidi-font-family:”PT Sans”;color:black”>The first phase of the port project is scheduled to handle 250,000 containers a year, although this will be expanded to 7.5 million by 2037. Japanese companies like Honda and Toyota have factories in the area. A construction start date awaits completion of a final design and feasibility study by the Japanese.