Jakarta, CNBC Indonesia – Indonesia’s sovereign wealth fund (SWF) named the Indonesia Investment Authority (INA) which was formed by President Joko Widodo (Jokowi) in February 2021, in cooperation with DP World (Dubai Ports World) with a value of US$ 7.5 billion or equivalent to Rp. 106.50 trillion (assuming an exchange rate of Rp. 14,200/US$) in a long-term partnership.
INA CEO Ridha Wirakusumah said this collaboration was aimed at improving Indonesia’s marine and port sector in the global manufacturing ecosystem.
The partnership between INA and DP World is considered to improve port operations, reduce logistics costs, and increase national competitiveness.
“Indonesia’s maritime and port sectors are key to supporting trade and consumption across the archipelago, and this collaboration with DP World will allow us to solve the problem of high logistics costs and port inefficiency,” Ridha said in a press release, quoted Monday (1/11). /2021).
In line with that, DP World Group CEO HE Sultan Ahmed Bin Sulayem said DP World realized the great potential of Indonesia as one of the fastest growing economies in the world, as well as projects undertaken by the government to improve port facilities.
“Through our partnership with INA, we are committed to supporting national initiatives that create value and provide expertise to modernize Indonesia’s maritime infrastructure,” he explained.
Later, DP World and INA will form a consortium and work team to explore logistics infrastructure investment in Indonesia, including investment hinterland, land terminals, cargo parks, feeder network systems, land transportation and industrial estates.
In addition, the company headquartered in Dubai will also explore cooperation with PT Pelabuhan Indonesia (Persero).
This collaboration by DP World will be carried out by leveraging its co-investment platform with Caisse de dépôt et placement du Québec (CDPQ) which since its launch in 2016 has invested in 12 port terminals globally at various stages of the asset life cycle.
DP World CEO & MD Asia Pacific and Australasia Glen Hilton said, with this collaboration with INA, the company will focus on building mutually beneficial relationships with local governments and stakeholders to create value throughout Indonesia’s supply chain.
“By combining our experience and disruptive technology with INA’s mandate to maximize economic impact, we are optimistic that we can improve Indonesia’s supply chain performance,” he explained.
DP World is a data-driven multinational logistics company that claims to deliver world-class technology and best practices for developing new terminals and port assets.
The company is headquartered in Dubai, United Arab Emirates and focuses on providing cargo logistics services, port terminal operations, marine services and free trade zones.
In Indonesia, the company will introduce its global best practices including operation optimization, service innovation, disruptive technology, and safety principles.
State-of-the-art logistics technology includes fully automated stacking to eliminate inefficiencies, hyperloop systems for fast cargo delivery, and 100% sustainable means of electric cargo transportation.
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