N A M A R I N

Media recently reported new shipping connectivity between Belawan port on the coast of North Sumatra province and an Indian destination, to be commenced soon. Initiated by the Ministry of State-owned Enterprises, the plan involves Indonesia Port Corporation or Pelindo and DP World, as a follow up to last year’s investment commitment from the government of the UAE for Rp457 trillion (US$30,19 billion) in the context of which the port business is one area of interest.   Indonesia’s sovereign wealth fund, the "Indonesia Investment Authority" or INA, a new body set up by the Government of Indonesia to manage Dubai’s investment asset, will accordingly establish a joint company, perhaps in the form of a capital venture, with the international port operator responsible for handling the new connection. This new firm will also invest in the development of the existing container terminal, currently controlled by PT Prima Terminal Petikemas (locally dubbed Prima Petikemas), a subsid