A Letter of Agreement was exchanged between the Malacca port and the Malaysian branch of the Chinese dredging company during the Langkawi International Maritime & Aerospace (LIMA) event this week.
The exchange was witnessed by YB Loke Siew Fook, Malaysian Minister of Transport and the Malaysian Prime Minister Datuk Seri Anwar Ibrahim.
According local reports the contract is worth RM800m and covers the reclamation of a 620 acre island off the coast of Malacca.
KLIP has licenses as an industrial and bunkering port, as well as a port of refuge from the Malaysian Ministry of Transport.
The project is estimated to cost RM15bn to develop and the artificial island is planned to feature a 1.5 million cu m tank farm, a 60-acre fabrication yard, a 131-acre shipyard to undertake dry docking, a cargo wharf and a distribution park.
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