Malaysia's oldest port operator, Penang Port Sdn Bhd, has announced major port expansion projects in anticipation of the increased demand that is expected to arise from economic expansion within the Northern Corridor Economic Region (NCER).
“The plan is to enable Penang to play an effective role as a transportation and logistics hub in the NCER,” said Penang Port chief operating officer Mohd Niana Merican. According to Merican, one key project would be a 405 hectares land reclamation to develop the fourth phase of the North Butterworth Container Terminal.
Merican estimates that this development will cost $920 million and take about 10 years to complete. Development plans will also see the construction of additional berths along with channel depth dredging from the current 11.5 metres (m) to 13 m. The port of Penang, located in northern Malaysia, handled 23 million tonnes of cargo last year.
News reports are saying that three parties have already made bids to take over Penang Port. According to these reports, Malaysia's Ministry of Finance is currently studying the proposals and will make a decision this year.
“The plan is to enable Penang to play an effective role as a transportation and logistics hub in the NCER,” said Penang Port chief operating officer Mohd Niana Merican. According to Merican, one key project would be a 405 hectares land reclamation to develop the fourth phase of the North Butterworth Container Terminal.
Merican estimates that this development will cost $920 million and take about 10 years to complete. Development plans will also see the construction of additional berths along with channel depth dredging from the current 11.5 metres (m) to 13 m. The port of Penang, located in northern Malaysia, handled 23 million tonnes of cargo last year.
News reports are saying that three parties have already made bids to take over Penang Port. According to these reports, Malaysia's Ministry of Finance is currently studying the proposals and will make a decision this year.