Linklaters advises DP World on its joint venture with Maspion Group on the development and operation of the Gresik container terminal and industrial logistics park in Indonesia
Linklaters advised DP World on the proposed development and operation of a US$1.2bn integrated container terminal and industrial logistics park in Gresik, East Java, Indonesia, and the related joint venture arrangements with Caisse de dépôt et placement du Québec (CDPQ) and PT Pelabuhan Indonesia Maspion (Maspion Group).
As part of the project, DP World, alongside its partner CDPQ, will establish a joint venture company with Indonesia’s leading conglomerate Maspion Group. This is the first joint venture in the Indonesian transportation sector involving a foreign direct investor partner and a private sector Indonesian company.
The joint venture company will be the sole operator of the port, with design capacity of up to three million twenty-foot equivalent units. DP World and CDPQ will also work with Maspion Group to develop an integrated industrial and logistics park, adjacent to the port, with an initial land area of 110 hectares and scope for future expansion.
The project was led by Linklaters’ energy & infrastructure partner David Holme and corporate/M&A partner Nicholas Edwards, with support from Widyawan & Partners’ counsel Made Satwika and Linklaters’ managing associates Jessica Chilton and Robert Ferag.
Linklaters’ partner David Holme, commented:
“This project is expected to greatly enhance the infrastructure development and accelerate the rapidly growing economy of Indonesia. We are honoured to have had the opportunity to support DP World on this strategic partnership and leading regional transaction. Our team looks forward to continuing working with DP World on this project and other opportunities in the region.”