Adani to set up a multi-purpose port in Malaysia

Adani to set up a multi-purpose port in Malaysia

An MoU has been signed by Adani Ports with MMC Ports for a feasibility study of Carey Island.

The Dollar Business Bureau

Adani Group on Monday signed an agreement with Malaysia’s MMC Ports with the possibility of setting up a multi-purpose port majorly to handle containers at the Carey Island of Malaysia.

A memorandum of understanding (MoU) has been signed by Adani Ports with MMC Ports of Malaysia to conduct a feasibility study of Carey Island Port Project as an expansion of the Port Klang, which is presently the world’s 11th busiest container port.

Besides, the two sides will have collaboration with Sime Darby Property, the subsidiary of Malaysian multinational Sime Darby Berhad, to conduct a feasibility study to develop an integrated maritime city that will support the new multi-purpose port.

In a release to the press Karan Adani, CEO – APSEZ said, “Malaysia is very strategic to APSEZ global strategy and with straits of Malacca being a global shipping route it helps us to drive our global transhipment strategy further. With Vizhinjam port on one side Carey Island port on the other we will be able to give transhipment solutions to global shipping lines. Malaysia with its supportive, transparent and proactive government policies makes it ideal destination for investment. MMC and Sime Darby are valued partners and with their involvement in these projects strengthens the case even more to make both these projects successful.”

The MOU was signed between MMC Ports Director Che Khalib Mohamad Noh, Sime Darby Property Managing Director Jauhari Hamidi and APSEZ's President - Business Development Sandeep Mehta.

In addition to developing and running the biggest private port of India located at Mundra (Gujarat), APSEZ is the largest container handler in the country outside government control. The company manages the container handling facility at Mundra Port and Hazira Port in Gujarat, and at Kattupalli in Tamil Nadu.

MMC Port Holdings Sdn Bhd, a wholly-owned unit of MMC Corporation Berhad (MMC), is the largest port operator in Malaysia and currently runs 5 terminals Pelabuhan Tg Pelepas Sdn. Bhd., Johor Port Berhad, Northport (Malaysia) Bhd, Penang Port Sdn. Bhd., as well as a 20% stake in Red Sea Gateway terminal in Jeddah. MMC Port also operates two big logistics companies, Kontena Nasional and JP Logistics.

Sime Darby Property is a fully-owned arm of Sime Darby Berhad, a diversified multinational based in Malaysia and engaged in major growth sectors like plantation, logistics, motors, property and industrial equipment.

The Dollar Business Bureau - Apr 04, 2017 12:00 IST