Construction of Timor-Leste’s Tibar Port is now 50% complete and the infrastructure is set to start in May 2022, the Government has said.
According to a statement from the timorese Ministry of Finance, the Government has disbursed a total of USD 64.7 million to Timor Port, the project’s concessionaire company.
“The payment represents the progress of construction of the port of Tibar bay, that reached 50%, and is expected to conclude the works and start the operation in May 2022”, the Ministry added.
When operational, the Government said, “the port will be a modern structure that will facilitate the movement of import and export, reduce delays and transaction cost (…) helping to facilitate the commercial activity of companies”.
Construction started in August 2019 and is being developed as a public-private partnership.
China Harbor Engineering Company, subcontracted by Timor Port for the construction, has made payments worth USD 20.4 million to 61 supplier companies, of which 39 local and 21 international created in Timor-Leste. These contracts made it possible to hire a total of 375 Timorese workers, the Ministry added.
Logistics group Bolloré hired the Chinese public company for the construction.
Overall, more than 1,134 workers have participated in the construction so far, of which 691 Timorese workers.
The first phase of the project (construction, equipment and operation of the port) is estimated at USD 278.3 million dollars, with the Timorese Government financing with USD 129.45 million and the private partner the remaining USD 148.85 million.