Dublin Port Company is close to signing a multimillion dollar deal with Indonesia to build a container terminal at Sabang Port in Sumatra.
The project, which has a value of more than $400 million, will be located on Sabang Island, some 20 miles offshore from Banda Aceh in northern Sumatra.
It is understood a new company, which will be equally owned by Dublin Port and Sabang Zone Management Agency, the company that manages the area under consideration for the port, will manage the port for 50 years.
Sabang is hoping to eventually provide an alternative route to the estimated 30 per cent of the world's shipping that passes through the Malacca Straits.
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