News / DP World set to pull out of Surabaya in new blow for Indonesia's port ambitions

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Indonesia’s port development was dealt a blow last week when DP World announced it would not renew its only operating contract there beyond 2019.

Located on the northern shore of East Java, the 2.1m teu-capacity PT Terminal Petikemas Surabaya (TPS) is 49% owned by DP World, with the majority stake controlled by state-owned port company Pelindo III.

In a rare rebuke to the Indonesian authorities, the Dubai-based port operator said the terms offered to renew the concession were financially unacceptable.

A local source told The ...