Consortium to build Batam port<\/p>\n
JAKARTA (JP): The Batam Industrial Development Agency (BIDA)
\nhas agreed to give exclusive rights to a consortium of
\nIndonesian, Singapore and Malaysian companies for the
\nestablishment of a container port in Batam at about US$1 billion.<\/p>\n
BIDA's deputy chairman, Gunawan Hadisusilo, was quoted
\nyesterday by Bisnis Indonesia as saying that the consortium will
\ninclude YTL Sdn. Bhd. of Malaysia, Kelang Container Terminal of
\nSingapore and Timsco, an Indonesian company owned by Timmy
\nHabibie.<\/p>\n
Gunawan said that the consortium, based on a memorandum of
\nunderstanding signed on March 31, is required to propose the
\ntechnical details of the project within six months.<\/p>\n
\"If the consortium fails to present the technical details by
\nOct. 1, its exclusive right will be revoked,\" he said.<\/p>\n
He explained that the technical details will cover the planned
\nfacilities, financial and investment planning, and the role of
\neach of the consortium's members.<\/p>\n
Based on the technical details, the consortium and BIDA, which
\nis chaired by State Minister for Research and Technology B.J.
\nHabibie, will negotiate for a contract on the port's
\nconstruction.<\/p>\n
\"The consortium pledged that the first stage of the project
\nwill be completed within 30 months after the signing of the
\ncontract of its establishment,\" he said, adding that consortium
\nplans to invest 500 million Malaysian ringgit in the first
\nstage.(32)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/consortium-to-build-batam-port-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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