Indonesia To Offer IDR8.8 Trillion Jakarta Port Expansion Project To Investors - Official

Indonesia will open a IDR8.8 trillion ($1.0 billion) project to expand Jakarta Port to bids from investors by next month at the earliest, a government official said Thursday.

"Hopefully, we can open the bidding process in May, or July at the latest," Director General of Sea Transportation Sunaryo told reporters.

Sunaryo, who uses one name, added the project will allow the port to handle an additional 1.2 million containers a year, which is expected to attract more investors to invest in the area around Jakarta.

He added the extension of Indonesia' busiest sea port is expected to be completed by 2014. Source: Dow Jones