Penang Port Sdn Bhd plans to reclaim about 405 hectares of land from the sea to develop the fourth phase of the North Butterworth Container Terminal in the northern Malaysian state of Penang, reports The Malaysia Star.
Penang Port's chief operating officer Niana Merican said reclamation work and fourth phase of the terminal would cost MYR3.2 billion (US$920 million) and take 10 years to complete.
"The plan is to enable Penang to play an effective role as a transportation and logistics hub in the Northern Corridor Economic Region,' said Mr Naina.
According to reports in the news media, three parties have made bids to take over Penang Port. They are Konsortium Logistik, a group of senior executives of Penang Port and a unidentified listed company, which is linked to the government.
Penang Port's chief operating officer Niana Merican said reclamation work and fourth phase of the terminal would cost MYR3.2 billion (US$920 million) and take 10 years to complete.
"The plan is to enable Penang to play an effective role as a transportation and logistics hub in the Northern Corridor Economic Region,' said Mr Naina.
According to reports in the news media, three parties have made bids to take over Penang Port. They are Konsortium Logistik, a group of senior executives of Penang Port and a unidentified listed company, which is linked to the government.