French conglomerate to build port at Timor Leste

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French conglomerate to build port at Timor Leste

The recently independent state of Timor-Leste in the Indonesian archipelago has chosen a French firm to construct and manage the port of Tibar.

Rui Maria de Araújo, the prime minister of Timor Leste, announced in Dili on Wednesday that he expected a final agreement to be signed with the Bolloré Group in the first half of next year.

There were only two bidders for the $400m PPP scheme: Paris-based conglomerate Bolloré and the Peninsular & Oriental Steam Navigation Company, which is owned by Dubai’s DP World Group. Portugal’s Mota Engil, Belgium’s Besix Group and Philippine International Container Terminal Services entered the race but did not present bids.

The Timorese government has said that the new port will be able to process 1 million tons of cargo a year and would be able to receive commercial and passenger vessels.

The port is an important part of the Timor Leste’s economic plans, which largely revolve around agriculture and tourism.

The state, which occupies the eastern half of the island of Timor, was a former Portuguese colony that was invaded by Indonesia in 1975 and occupied until 1999, during which time more than 100,000 Timorese suffered conflict-related deaths.

The island gained independence in 2002, but more than half the population still live in extreme poverty.

Source and Link: Global Construction Review

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

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Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.