[150117.EN.BIZ] Malaysia Plans to Develop US$44.6b 30m TEU Facility on Carey Island

MALAYSIA plans to develop - possibly with Chinese funding - a MYR200 billion (US$44.6 billion) port-industrial city with a capacity of 30 million TEU on a 100-sq-km site on Carey Island, to ease congestion at the nearby Port Klang container terminal complex of Westport and North Port once the project is completed in 20 years' time.

The port-city development will ultimately comprise an integrated port and related infrastructure, industrial parks and free trade zones, commercial and residential buildings. It would cater for containers, bulk and liquid cargo, car carriers, and also provide bunkering, ship repairing and maintenance services, reported Seatrade Maritime News, citing local media reports.

Malaysian conglomerate Sime Darby, which has some port interests in China, owns most of the Carey Island. Port developers say they are open to participation in the project by shipping industries from China, Japan, USA, UAE and India, although China has been specifically named as expressing interest.

Transport Minister Liow Tiong Lai presented the port-city concept to his counterpart in China six months ago, inviting China to jointly develop Carey Island into a deep-sea port that could also service Chinese ships plying the Malacca Strait.

There have also been discussions with China Merchants Group, which has recently made massive investments in port infrastructure globally in line with China's One Belt and Road initiative.

Source : HKSG.