Chinese firms PowerChina International, Shenzhen Yantian Port Group and Rizhao Port Group have joined hands to work on a MYR30bn ($7.2bn) Malacca Gateway Project, of which a RMB8bn deepsea port is part of the project, scheduled for completion in 2019.
Malaysia’s KAJ Development said the port will be designed as a liquid cargo terminal, which will have storage facilities for liquid cargo including petroleum, chemical products and vegetable oil.
The deep waterway of 25-30 metres will also be ideal for accommodating large ships, KAJ Development stated.
“On an annual basis, overly nearly 100,000 vessels ply the Strait of Malacca as its strategic location as part of east-west maritime gateway,” Liow Tiong Lai, Malaysia’s minister of transport, was reported saying.
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