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PTP welcomes $40m manufacturing plant

PTP welcomes $40m manufacturing plant

Kuala Lumpur: Port of Tanjung Pelepas (PTP) has signed a land lease agreement with Cameron International Malaysia Systems for the latter to set up a RM150m ($40.9m) manufacturing plant in the PTP Free Zone. The plant, scheduled to be operational by July next year, will manufacture Cameron's subsea systems used in producing oil and gas wells, and is expected to generate around 20,000 tonnes of project cargo annually. PTP ceo Harun Johari said the deal was timely as it chimed with the goal of turning south-west Johor into a logistics hub as outlined in the Ninth Malaysia Plan. PTP, which claims to be SE Asia's fastest growing port, handled 2.24m teu in the first half of the year, a 7.9% increase over the comparable 2005 period, while annual capacity has just been boosted to 8m teu with addition of Berths 9 and 10 this summer/autumn.  [14/09/06]

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