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Kuantan Port group secures 30-year operating concession

Progress on the Kuantan Port project is continuing well with the group operating the port, Kuantan Port Consortium (KPC), securing a 30-year concession from the Malaysian government to develop and operate the existing Kuantan Port, local media reported.

Vincent Wee, Hong Kong and South East Asia Correspondent

June 17, 2015

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The concession, effective since 1 June, will be extended by 30 more years upon the completion of a MYR3bn ($800.5m) new deepwater terminal at the port, which 60% owner IJM Corp is jointly developing with China’s Guangxi Beibu Gulf International Port Group, which owns the remaining 40% stake in KPC.

“The new deep-water terminal, other than the new breakwater, will be developed by KPC in two phases,” IJM said.

"The development of the new deepwater terminal is timely, as it increases the cargo-handling capacity of Kuantan Port, which is currently operating at near-full capacity,” IJM added.

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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