Home UAE Dubai Indonesia wealth fund, DP World ink pact for port development The two entities will form a consortium to explore long-term investment opportunities across the country by Bloomberg November 1, 2021 Indonesia’s newly established wealth fund signed an agreement with Dubai port operator DP World to develop seaports in Southeast Asia’s largest economy. Under the agreement, Indonesia Investment Authority and DP World, one of the biggest global port operators, will form a consortium to explore long-term investment opportunities across the country, according to a joint statement on Sunday. A partnership with state port operator PT Pelabuhan Indonesia is among options that both parties say will bring economic value of up to $7.5 billion. Indonesia, an archipelago with over 17,000 islands, considers marine logistics and seaports as a key support for the domestic economy, according to Ridha Wirakusumah, president director at the fund known as INA. The fund lets investors place money in sub-funds spanning infrastructure, healthcare, tourism, technology and the development of a new national capital city planned on the island of Kalimantan. DP World recently announced a string of deals to become a more diversified and integrated logistics company. Its operations span from gateways in London and Antwerp to hubs in Africa, Russia, India and the Americas. The company, along with partner Caisse de dépôt et placement du Québec, signed a port and logistics park agreement with Indonesia’s Maspion Group in March. Tags DP World Indonesia Investment Authority 0 Comments You might also like DP World: Pioneering breakbulk logistics globally Dubai breaks ground on mega $150m Agri Terminals facility This Indian state has signed MoUs worth $3bn with DP World DP World to relocate global head office to Expo City Dubai