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Group backed by Indonesia wealth fund to invest in Belawan Port

Deal part of Sumatra infrastructure push to turn island into major maritime hub

A major project aims to turn Belawan into a major Southeast Asian transportation and maritime hub.   © Reuters

JAKARTA -- A consortium backed by Indonesian sovereign wealth fund INA has agreed with port operator Pelindo to invest in the expansion of Belawan Port's new container terminal (BNCT) on the island of Sumatra.

The deal is part of a strategic alliance between INA and United Arab Emirates-based logistics company DP World. In 2021, INA signed a strategic alliance with DP World for an investment commitment of up to $7.5 billion.

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