PT. Lamicitra Nusantara, Tbk. through its subsidiary PT. MISI plans to develop an integrated seaport and industrial city in Madura, known as Madura Industrial Seaport City (MISI) in 2009. The project is located in the western part of Madura to be precise in Bangkalan district, as the gateway that connect Surabaya Metropolitan city with Madura island. The project will consist of port development and its supporting facilities; an industrial estate development, a commercial and a real estate development; infrastructure development and public facilities development.
The background for the development of MISI were due to:
- The decision made in 2006 by the authorised government bodies to include Bangkalan district in Madura as a part of Surabaya administrative area in their future provincial planning.
- The expected completion of Suramadu bridge in 2009 which will connect Madura island tih Surabaya city.
- The current condition of existing Tanjung Perak harbor showed a stable increase figures of its activities over years of ship traffic, containers and commodities handling. Due to limited space availability, only a little addition and improvement showed to its facilities. Thus, traffic congestion and longer process time for loading and unloading activities (dwelling time) needed which create both economic inefficiency and ineffectiveness.
- The determination of authorized government bodies of urgent requirement for the development of a new integrated and comprehensive port and its facilities to support the economic development for East Java province.
The total area prepared by PT. Lamicitra Nusantara, Tbk. for the development of an integrated and comprehensive development mentioned above is 10,000 hectare. The projects above are targeted to be completed within 10 years period. Each project requires funding in 10 phases of approximately US$ 600 millions per project