{"id":814,"date":"2019-11-27T14:28:00","date_gmt":"2019-11-27T14:28:00","guid":{"rendered":"https:\/\/portstrategy.nfdtesting.uk\/coastlink\/2019\/11\/27\/indonesian-port-stake-to-be-sold\/"},"modified":"2019-11-27T14:28:00","modified_gmt":"2019-11-27T14:28:00","slug":"indonesian-port-stake-to-be-sold","status":"publish","type":"post","link":"https:\/\/www.portstrategy.com\/coastlink\/2019\/11\/27\/indonesian-port-stake-to-be-sold\/","title":{"rendered":"Indonesian port stake to be sold"},"content":{"rendered":"<p>State-owned PT PP is planning to get rid of stakes in four infrastructure projects, including North Sumatra\u2019s Kuala Tanjung greenfield Port, to help finance its capital expenditure in 2020, reported <em>The Jakarta Post<\/em>.<\/p>\n<p>\u201cWe\u2019re planning to divest our stakes in Kuala Tanjung Port and the Medan-Kualanamu-Tebing Tinggi toll road [in North Sumatra], the Pandaan-Malang toll road [in East Java], the Manado-Bitung toll road [in North Sulawesi] and the Balikpapan-Samarina toll road [in East Kalimantan],\u201d finance director Agus Purbianto stated.<\/p>\n<p>The first development phase of Kuala Tanjung Multipurpose Terminal was inaugurated in 2018, but the port&#8217;s development has been troubled by delays and difficult concession negotiations. There also appears to be revenue problems.<\/p>\n<p>In April, <a href=\"https:\/\/www.portstrategy.com\/news101\/world\/asia\/Southeast-Asia-takes-reinvention-seriously\" target=\"_blank\"><em>Port Strategy<\/em> highlighted that Pelindo I claimed to have invested $350m to have the capacity to handle the big ships<\/a>, but David Wignall of Seaport noted that based on its own forecasts \u201cthe revenue will be about $25m in 2025 \u2013 barely enough to cover the annual interest\u201d.<\/p>\n<p>In 2017, D<a href=\"https:\/\/www.portstrategy.com\/news101\/world\/asia\/dp-world-advises-on-indonesias-development\" target=\"_blank\">P World agreed to advise on the development of the Kuala Tanjung Port<\/a> and logistics zone and the Port of Belawan to help Indonesia grow its domestic and international trade.<\/p>\n<p><em>Port Strategy<\/em> has contacted PT PP for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A construction company is planning to sell its stake in an Indonesian port to fund new infrastructure projects.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25],"tags":[],"sponsor":[],"class_list":["post-814","post","type-post","status-publish","format-standard","hentry","category-asia"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/comments?post=814"}],"version-history":[{"count":0,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/814\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media?parent=814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/categories?post=814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/tags?post=814"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/sponsor?post=814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}