Philippines-based International Container Terminal Services Inc. (ICTSI) has made a joint-venture deal with an Indonesian private port developer to operate the Adipurusa terminal at the Port of Tanjung Priok in Indonesia.
ICTSI’s local subsidiary, PT Karwell Indonesia, will co-manage its recently acquired facility with PT PBM Adipurusa.
“The joint operation arrangement forms part of the initial steps aimed at establishing a joint venture between PT Karwell and PT PBM,” ICTSI said in a regulatory filing.
The deal involves letting PBM Adipurusa use the loading and unloading equipment of Karwell in its port operations in Tanjung Priok.
“The said agreement pertains to a joint operation arrangement between the two companies whereby several container loading and unloading equipment owned by Karwell will be used in the area being operated by PBM Adiparusa in the port of Tanjung Priok, Jakarta,” said ICTSI.
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