KUALA LUMPUR, Oct 21 — Three Chinese companies will be involved in the construction of a new RM8 billion deep sea port in Malacca, China’s Xinhua media agency reported today.
PowerChina Development, Shenzhen Yantian Port Group and Rizhao Port Group will help Malaysia’s KAJ Development to build the liquid cargo terminal, expected to be completed by 2019.
The deep-sea port is part of a bigger Malacca Gateway Project, which is expected to cost RM30 billion.
With a deep waterway between 25 to 30 metres, KAJ Development described it as the “ideal choice for a deep sea port.”
Transport Minister Datuk Seri Liow Tiong Lai also reportedly said that the construction of the port present significant opportunity for growth.
“On an annual basis, over 100,000 vessels ply the Strait of Malacca as its strategic location is part of the east-west maritime gateway,” he said.