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Sunday, 7 May 2017

(The Star) Kuantan Port upgrade to be ready by mid-2018

KARAK: The expansion of Kuantan Port will be completed by the middle of next year, said Transport Minister Datuk Seri Liow Tiong Lai.

“We need to be on time because the steel production factory (at the Malaysia-China Kuantan Industrial Park) should be online by then and will need the port,” he said.

He said the Government invested about RM1bil while the private sector pumped RM3bil into construction of a deepwater terminal at the port.

The private sector investors are local construction giant IJM Corp Bhd and China’s Guangxi Beibu Gulf International Port Group.

Kuantan Port Consortium Sdn Bhd, which has a 30-year concession to manage, operate and deve­lop Kuantan Port, is 60% owned by IJM Corp, with Guangxi Beibu owning 40%.

The industrial park has attracted more than RM20bil in investments, Liow told reporters after attending the launch of the empower East Coast Economic Region skill and entrepreneurship training centre here yesterday.

“These are positive developments for Kuantan and will drive more economic growth in Pahang,” said the Bentong MP.

It is the first industrial park to be jointly developed by Malaysia and China.

The master developer – MCKIP Sdn Bhd – is 51% owned by a Malay­sian consortium and 49% by a Chinese consortium.

IJM Land Bhd, Sime Darby Pro­perty Bhd and the Pahang government make up the local entity.

Guangxi Beibu and Qinzhou Investment Development Co Ltd form the Chinese side.

A sister project is the China-Malaysia Qinzhou Industrial Park in China.