The Port of Tanjung Pelepas (PTP), Malaysia, is set to invest more than RM8.6bn (US$2.1bn) to more than double its capacity by 2030, local media reported.
The expansion project is expected to increase PTP’s handling capacity to 22.2m teu within the next 15 years.
PTP’s chairman Dato’ Sri Che Khalib Mohamad Noh reportedly said at the PTP-organised Tijarah Ramadhan programme that the first stages of the project would include replacement of its existing equipment to increase the annual capacity from the current 10.5m teu to 13.2m teu.
According to PTP’s chairman, the third phase, which is expected to take place in 2018, would instead include construction of six new berths of 3 km in length.
The completion of the project’s third stage, which will be divided into phases 3A and 3B, is expected to enable PTP to increase its handling capacity to 22.2m teu before 2030.
According to local media, Che Khalib said that the expansion project would ensure that PTP remained competitive in the market.
Che Khalib reportedly claimed that the project would ultimately allow PTP to emerge as the most preferred transhipment port in Asia.
PTP is currently equipped with 14 berths with a quay length of 5 km.