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NATIONAL, INTERNATIONAL, DILI

TL government spend US$64,7million for the construction of Tibar Bay Port

TL government spend US$64,7million  for the construction of Tibar Bay Port

DILI, 9 september, 2021 (TATOLI)—The government’s Ministry of Finance spend US$ 64,7 from the Escrow Account managing by the Ministry of Finance for the construction of Tibar Bay Port.

The Timor Port S.A Firm is a Timor-Leste consortium for the construction of Tibar Bay Port with modalities of a Public-Private Partnerships allocated $130 million from the viability fund. Timor Port affiliated under the Bollore has allocated $150 million, therefore the total of the initial budget allocated in the first period is $.280 along with the estimated investment which is $.500 million for 30 years.

According to the report accessed by TATOLI, The Construction of the Tibar port has reached 62,26 % and will be concluded in May or June 2022.

“When the construction reaches 100%, the Tibar Bay Port will be named Dili port to enable the import and exports movement activities with one million cargo load of containers within a year,” said.

The Minister of Finance is taken an important step for the Fiscal Reform and Public Finance Management. It is modernizing the manner to support the country in the collecting of revenue. 

This modern port will help Timor-Leste to connect with other ASIA countries and access for trade market at the global level and even contribute to increasing the connectivity for Agriculture, Tourism, Fisheries, and Industry. 

Currently, 1.240 workers are under the construction of Tibar Bay Port with 792 (63%) of workers are Timorese Nationalists.

 

 

Journalist: Antónia Gusmão

Editor: Julia Chaterina

Translator: José Belarmino De Sá

 

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