State-run Indonesia Port Corporation II (IPC) has floated a tender to seek bidders for a 49 per cent stake in the joint venture (JV) companies that will operate the product terminal at New Priok port, currently under construction. When completed, the product terminal is estimated to have a storage capacity of some 1 million cubic metres (35,300 cubic feet). Meanwhile, IPC has also floated a tender for the construction of Terminals 2 and 3 of Kalibaru port. The tender has drawn the participation of 18 major international shipping lines; selected bidders will be announced in September 2013. The second and third terminals, with a total capacity of three TEUs, are expected to commence operations in2016.