KPC Inks New 30-Year Concession Agreement for Kuantan Port

KPC Inks New 30-Year Concession Agreement for Kuantan Port

Kuantan Port Consortium Sdn Bhd (KPC) has signed a new privatisation agreement with the government of Malaysia and Kuantan Port Authority whereby KPC is granted a new 30-year port concession in relation to the development, operation and management of Kuantan Port.

The agreement covers the existing Kuantan Port and a new deep water terminal adjacent to the existing port facilities, KPC’s parent company IJM Corporation said in a release.

The parties have also terminated the existing 30-year concession agreement signed back in 1997.

The new deep water terminal will be developed by KPC in two phases for a total investment of about MYR 3 billion (USD 808.3 million). The development involves the dredging of harbour basin and navigational channel, reclamation works, construction of new berths and cargo storage yards as well as provision of infrastructure facilities and utilities associated with port operations.

The development of the new terminal will be funded through borrowings and internally generated funds.

The new concession agreement started retroactively on June 1, 2015, and shall be extended for a further period of thirty years subject to the fulfillment of the Phase 2 development of the new terminal by December 31, 2039.

Image: Kuantan Port Authority

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >

LNG Bunkering Summit 2018

The conference will cover the obstacles facing both the shipping and port communities, exploring developments in conversion and new builds…

read more >