Asian Tech Press (Nov 1) -- Indonesia's sovereign wealth fund and Dubai-based logistics giant DP World have signed a $7.5 billion deal to jointly form a consortium over the long-term to invest in seaports in the Southeast Asian country, Reuters reported on Monday.

In a joint statement, DP World and the Indonesia Investment Authority (INA) said the consortium would explore investments in terminals, land transport to and from ports and industrial zones, which would reduce Indonesia's logistics costs, the report said.

Launched by the Indonesian government in February this year, the sovereign wealth fund has an initial investment of $5 billion. And its mission is to finance infrastructure development in Southeast Asia's largest economy by attracting co-investors to expand its assets to $20 billion.