State port operator Pelabuhan Indonesia (Pelindo) 3 booked net profit of Rp2.04 trillion in 2017, grew 35% year on year (y/y), helped by cost efficiency. Revenues rose 18% to Rp8.85 trillion. Operating expenses declined 5%. Subsidiaries contributed Rp662 billion profit last year, jumped 44%. Pelindo 3 plans to spend Rp1 trillion this year for executing several logistical and port projects jointly with three private companies. The port operator also plans to raise US$1 billion from selling global bonds to finance the company’s existing port projects.