Sovereign wealth fund: INA consortium forms a joint venture
This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Bisnis Indonesia - Lembaga Pengelola Investasi: Konsorsium INA bentuk usaha patungan
26 June 2023
By: Tegar Arief
Jakarta - The consortium established by Indonesia Investment Authority (INA) formed a joint venture that will develop the market and operate Belawan New Container Terminal (BNCT).
The shareholder agreement was signed by PT Pelabuhan Indonesia (Persero) or Pelindo through its sub-subsidiary, PT Prima Terminal Petikemas (Prima TPK), and the consortium established by INA with DP World FZE (DP World), PT INA DPWorld Investment (INA DPWorld).
The agreement is a follow up to the previous agreement that was signed by both entities in August 2022 to operate BNCT.
INA Supervisory Board Chairperson and Finance Minister Sri Mulyani Indrawati said that the investment partnership was an important milestone for port infrastructure in Indonesia to accelerate economic growth through capital investment and strategic expertise.
“The completion of the investment process of Pelindo, INA, and DP World is a significant process in the empowerment of Belawan Port as one of the strategic assets of Indonesia,” she said at the end of last week.
She added that capital participation from the government could not fully fulfil the requirement to unlock Indonesia’s potential, so funding arrangements and partnerships are crucial to optimise the potential of state assets.
“With an international modern port, our industry will be increasingly connected and strong in realising exports that will accelerate structural transformation,” she explained.
INA Board of Directors Chairperson Ridha Wirakusumah added that INA’s investment in BNCT was an important step to place Indonesia as a leading maritime axis and a key player in the global logistics industry.
“This transformative project supports economic growth and advances Indonesia’s maritime sector and provides an important role in boosting economic growth,” he stated.
According to him, with the focus on supply chain network optimisation, the investment in BNCT is unlocking the full potential of an important infrastructure asset in Indonesia.
