Kuala Lumpur: Penang Port Sdn Bhd plans to reclaim about 405 hectares of land from the sea to develop the fourth phase of the North Butterworth Container Terminal in the northern Malaysian state of Penang, the Star reported.
The newspaper quoted Penang Port's chief operating officer, Mohd Niana Merican, as saying the reclamation work and fourth phase of the terminal would cost 3.2 billion ringgit and take 10 years to complete.
'The plan is to enable Penang to play an effective role as a transportation and logistics hub in the Northern Corridor Economic Region,' Mohd Naina was quoted as saying.
According to reports in the news media, three parties have made bids to take over Penang Port. They are Konsortium Logistik Bhd, a group of senior executives of Penang Port and an unidentified listed company which is linked to the government. [10/08/07]
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