Benalec Holdings Bhd has announced the signing of development agreements on its two Johor land reclamation concessions in Pengerang and Tanjung Piai.
Benalec said its 70% owned units, Spektrum Budi Sdn Bhd (SBSB) and Spektrum Kukuh Sdn Bhd (SKSB), will bear all costs of reclaiming the two concession areas that span a gross area of 5,245 acres.
According to The Edge, the two subsidiaries will bear the cost of major infrastructure works and assume all risks of constructing the two integrated petroleum and petrochemical hubs as well as logistics and maritime industrial parks along the Pengerang, Kota Tinggi and Tanjung Piai, Pontian coast.
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Dredging Today Staff, September 7, 2012