IPC has issued an invitation for tender applications from international terminal operators for the New Priok Port. The company is offering a 49% stake in a joint venture operation for operating the second and third terminals of what will be the largest port in the country. Both terminals will have a combined capacity of 3 million TEUs and are scheduled to start development in 2016. Companies have therefore been invited to issue their tender documents and the announcement of the winning bid is due to be made towards the end of 2013.

The first terminal of the project, which has a capacity of 1.5 million TEUs, has been awarded to Japan’s Mitsui & Co Ltd. This cooperation with a Japanese operator is designed to bring in further shipping companies such as Evergreen, APL and Hanjin to strengthen the standing of the new port in the global market. By collaborating with foreign joint venture partners, IPC also aims to increase Indonesia’s international market reach and bring in larger shipping vessels of up to 8,000 TEUs.

Thus far, some 18 companies have shown interest in investing in the project including Hutchinson and Dubai Port World.