JAKARTA, Feb. 22 (Xinhua) -- Indonesia inaugurated the Makassar New Port with an investment of 5.4 trillion rupiah (around 345 million U.S. dollars) in South Sulawesi, the second largest port in Indonesia after Tanjung Priok in Jakarta.
"We hope that this large port in eastern Indonesia will streamline domestic logistics costs," said Indonesian President Joko Widodo on the sidelines of the inauguration on Thursday.
In the face of fierce domestic and international competition, Widodo underlined the importance of efficiency.
Due to the absence of integration between port locations and factories and industrial zones, logistics expenses in Indonesia reached 24 percent 10 years ago.
Although it has now dropped to 14 percent, Widodo said more needs to be done to lower this percentage.
With its 16-meter water depth and a capacity of up to 2.5 million TEUs, the Makassar New Port can accommodate huge vessels transporting containers. ■