Timor-Leste opens new port in largest ever foreign investment

Timor Leste president Jose Ramos Horta (centre) gestures during the inauguration ceremony of Tibar Bay port, operated by French company Bollore in Liquica, East Timor on Novr 30, 2022. - AFP

DILI (AFP): Timor-este inaugurated a new deepwater port on Wednesday (Nov 30) operated by a French conglomerate, in the largest ever single foreign investment on an infrastructure project in South-East Asia's youngest country.

The US$490 million port at Tibar Bay near the capital Dili is expected to expand trade for Timor-Leste one of the poorest countries in the region.

"It was necessary for Timor-Leste to be connected to the main shipping lines in Asia," French transport giant Bollore's director of ports Olivier de Noray told AFP.

The port will be able to receive ships of more than 8,000 containers, he said, and vessels sailing from Singapore through the Indonesian archipelago to Australia will be able to call there.

Timor-Leste, which gained independence from Indonesian occupation in 2002, already has a port in Dili but it is not deep enough to accommodate large container ships.

The new project, which took four years to complete, is being operated under a 30-year public-private partnership agreement.

Timor-Leste will contribute $135 million and Bollore $155 million for the initial phase of the project, according to the local government.

The port started operations in September and was inaugurated at a ceremony on Wednesday.

It will become the largest private employer in the country with more than 300 jobs, according to Bollore.

Its construction in a bay bordered by mangroves with a partially damaged coral reef and sea turtles has raised concerns about risks to the environment.

Bollore said it is working with a local NGO on environmental protection projects.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Timor-Leste , port , Bollore , French , Tibar Bay


Next In Aseanplus News

Schools close in Bangkok as Thailand’s air pollution worsens
Oil falls about 3% as strong US jobs data prompt interest rate concerns
Chinese scientists build hypersonic generator for power-hungry weapons of the future
Alibaba, BYD boost Hong Kong stocks as Fed policy downshift, China recovery bets draw global funds
Talent-strapped Taiwan seeks 20,000 ‘special’ professionals, 200,000 overseas students amid talent push
Tech war: Korean probe of tech leak to China underscores semiconductor supply chain tensions
Details of 500,000 airline tickets giveaway to be revealed as city chief outlines HK$2 billion ‘Hello Hong Kong’ campaign
US State Department honours Chinese activist Ding Jiaxi as a ‘global human rights defender’
China’s clean heating policies may have prevented over 23,000 premature deaths in 2021, study finds
Chinese military announces YJ-21 missile abilities in social media post read as warning to US amid tension in Taiwan Strait

Others Also Read