JAKARTA – PT Samudera Indonesia Tbk (SMDR) has completed the acquisition of new shares in PT Patimban Global Gateway Terminal (PGT), through its subsidiary, PT Samudera Pelabuhan Indonesia (SPI).

This strategic move was undertaken in collaboration with Africa Global Logistics SAS (AGL) and Toyota Tsusho Corporation (TTC).

"The acquisition has been approved by all shareholders," said the Board of Directors of Patimban Global in an official statement to the Indonesia Stock Exchange (IDX) on Friday (21/2).

According to information on Samudera Indonesia’s official website, the company and its partners have agreed to collaborate in a joint venture to develop and operate a container terminal at Patimban Port through PGT.

PGT itself has signed a 37-year agreement with PT Pelabuhan Patimban International (PPI) to manage said terminal.

The PGT container terminal will be developed in phases, with a target capacity of 3.7 million TEUs, and is scheduled to commence commercial operations by 2026. (DK/ZH)