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Penang Port to start US$46 million expansion that includes dredging
来源： 编辑：编辑部 发布：2018/03/01 14:55:01
PENANG Port, owned by MMC Corp, is to invest MYR180 million (US$46 million) in the expansion works to raise capacity to 2.8 million TEU, up from two million TEU at present.
Local media quoted Penang Port CEO Sasedharan Vasudevan as saying that capex, which will be internally funded for the first phase expansion, berth strengthening and the purchase of two quay cranes to enhance the port's operational capacity has been approved.
"We are still at the designing and consulting stages with engineers. The expansion includes widening and strengthening the berth spaces at the terminal," he said, adding that the bulk of the capex will be allocated to the container terminal business, which has seen growing demand, reported Colchester's Seatrade Maritime News.
"The expansion will eventually allow bigger vessels docking and increase throughput capacity," he said.
Mr Sasedharan said dredging work will deepen the channel to 11.5 metres from the current depth of 11 metres.
"We believe if the growing trend continues, we will hit throughput of 2.2 million or 2.3 million TEU in the next four to five years. However, we have yet to fill up the capacity. We have to start the work now to meet future demand," he said.
Mr Sasedharan said the expansion work is expected to take between 18 months and 20 months and will start by the third quarter.
The port aims to raise throughput by five per cent to 1.6 million TEU this year, said Mr Sasedharan.
Local media quoted Penang Port CEO Sasedharan Vasudevan as saying that capex, which will be internally funded for the first phase expansion, berth strengthening and the purchase of two quay cranes to enhance the port's operational capacity has been approved.
"We are still at the designing and consulting stages with engineers. The expansion includes widening and strengthening the berth spaces at the terminal," he said, adding that the bulk of the capex will be allocated to the container terminal business, which has seen growing demand, reported Colchester's Seatrade Maritime News.
"The expansion will eventually allow bigger vessels docking and increase throughput capacity," he said.
Mr Sasedharan said dredging work will deepen the channel to 11.5 metres from the current depth of 11 metres.
"We believe if the growing trend continues, we will hit throughput of 2.2 million or 2.3 million TEU in the next four to five years. However, we have yet to fill up the capacity. We have to start the work now to meet future demand," he said.
Mr Sasedharan said the expansion work is expected to take between 18 months and 20 months and will start by the third quarter.
The port aims to raise throughput by five per cent to 1.6 million TEU this year, said Mr Sasedharan.