Jakarta International Container Terminal (JICT) has received a $70m loan from the International Finance Corporation and HSBC to boost capacity at its Tanjung Priok container terminal.

The financial help will boost JICT’s annual capacity at the terminal by 50%, from 2 million teu to 3 million teu by 2013. The expansion project will cost the company $160m while JICT will fund the rest.

The container terminal at Tanjung Priok handles about 30% of all container traffic in Indonesia.

JICT is jointly owned by Hong Kong’s Hutchison Port Holdings and state-owned port operator Pelabuhan Indonesia II.