JAKARTA (Yosefardi) – State port operator PT Pelabuhan Indonesia (Pelindo) II will set up joint venture (JV) with Pelindo I and Pelindo IV, for building 24 ports across the country, to accelerate the Sea Toll program.

The construction of 24 ports would cost around Rp60-70 trillion. Rini Soemarno, minister for state-owned enterprises (SoEs), said Pelindo will also own ports as Pelindo I and IV have not full capacity on building new ports.

Pelindo I has operation areas in north and east of Sumatra while Pelindo IV has operations in eastern part of Indonesia such as Sulawesi, Maluku, and Papua.

R.J. Lino, president director of Pelindo II, said Pelindo II has deposit of Rp18.5 trillion put on banks and has room to raise Rp50 trillion via bonds issue.