Posted by on January 24, 2018

Dubai Port World – DP World

JAKARTA – PT Pelabuhan Indonesia III (Persero) expects the termination of cooperation between the company and Dubai Port World in PT Terminal Petikemas Surabaya (TPS) can be completed in January 2018. Both parties will soon sign a purchase agreement and the conditions under which Pelindo III will buy 49% of DP World shares in TPS.

President Director of Pelindo III, IGN Askhara Danadiputra said the company with DP World has agreed not to continue the cooperation in TPS which will end in April 2019. Therefore, Pelindo III will buy back shares in TPS which was released in 1999.

“We only need to sign a contract [contract sale agreement], the contract value until 2019 is Rp1 trillion, so we will buyback [worth] Rp490 billion,” said Askhara Danadiputra or usually called Ari Askhara to, Monday night (22 / 1/2018).

Ari explained if the conditional sale and purchase agreement has been signed, as a result DP World just waiting until April 2019 to leave from TPS. As is known, DP World entered into a shareholder of TPS after acquiring the parent stock of P & O Dover in 2006. P & O Dover owns 49% of TPS shares since 1999 when Pelindo III privatized shares in TPS.

Ari previously explained that the port management regime currently refers to the Law No.17 of 2008 on Shipping is not very attractive for investors such as DP World. This is because the mechanism of tariff determination and adjustment is quite long because it must involve the service user association as determined by the Minister of Communications.

On the other hand, DP World has stated not to continue operations at TPS in September 2017. In an official statement released by DP World, the container terminal operator from the United Arab Emirates is disappointed because the terms of contract extension offered by the Indonesian government is not in accordance with the calculations of the company.

After DP World Hengkang, Ari said, Pelindo III will manage their own TPS. He revealed that Pelindo III also opened stock exchange option with state-owned enterprises in the port sector. With the stock exchange, Pelindo III has the opportunity to expand beyond the existing work area.

Translated by Aryaputra PandeBIC


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