Indonesia's Nusantara Sets Sights on Sumatra Port
Ivan Dasa Saputra. The Jakarta Globe, 05/04/2012
Construction services provider Nusantara Infrastructure is set to become the first private company to operate an Indonesian seaport, a top official said on Wednesday.
Ramdani Basri, the company’s president director, said Nusantara has agreed to purchase a 39 percent stake in Inti Sentosa Alam Bahtera, which runs the Panjang seaport in southern Sumatra, for $10 million to $11 million.
“The acquisition will complement our business and make us the first private company to operate a seaport in Indonesia,’’ he said, adding that the deal was signed on Tuesday.
Panjang seaport, located in Lampung, processes shipments of chemical products and commodities. Ramdani hopes it will become a hub that links global trade centers such as India, Africa and Europe.
“The seaport is a base for commodities,” he said.
He said Nusantara signed the deal through its unit Portco Infranusantara and expects to earn up to $3.12 million in annual revenue from the port. Inti Sentosa Alam Bahtera is forecast to make up to $8 million in revenue annually from the port.
Nusantara Infrastructure is 23.6 percent owned by Rajawali Group, a conglomerate controlled by business tycoon Peter Sondakh. It operates four toll roads on Java and Sulawesi.
Rajawali Group is engaged in mining, transportation, agricultural estates, infrastructure and retail. It is also the controlling shareholder at Transpacific Railway Infrastructure, which manages railway development in South Sumatra.
Shares in Nusantara rose 7.7 percent to Rp 280 on the Indonesia Stock Exchange on Wednesday. The company’s shares have risen 37 percent this year.