ICTSI unit starts building Indonesia terminal
A UNIT of International Container Terminal Services, Inc. (ICTSI) has started the construction of a multipurpose terminal in East Java, Indonesia, the listed port operator said on Wednesday.
“We are very excited with this new terminal development as it will provide a new and more accessible gateway for our hinterland customers in Lamongan, Tuban and up to central Java,” said Patrick Chan, chief executive officer of East Java Multipurpose Terminal (EJMT), said in a media release.
The ICTSI unit broke ground last week for the terminal’s development, which is scheduled to be operational by September next year.
“Catering to an already thriving industry with this new investment, EJMT is well-positioned to support the growing economy of East Java and Indonesia,” Mr. Chan said.
The terminal will include a 300-meter quay line, breakwater, super-heavy lift breakbulk deck, and dredging of the navigational channel to -13.5 meters,” ICTSI said.
It said the construction will be supported by two mobile harbor cranes and cargo handling equipment.
EJMT is an international gateway in Lamongan Regency of East Java province, ICTSI said, adding that the multipurpose terminal facility will be located in the 80-hectare Lamongan Shorebase complex, which caters to the specialized offshore oil and gas industry.
“The development of EJMT will provide domestic and international access to our existing and new customers, who will also benefit from the reduced overall supply chain costs,” David Lim, CEO of PT Eastern Logistics, the operator of Lamongan Shorebase.
EJMT is ICTSI’s joint venture with Indonesian oil and gas company East Log Holdings.
At the local bourse on Wednesday, shares in ICTSI fell by 80 centavos or 0.37% to end at P214.20 apiece. — Ashley Erika O. Jose