Malaysia: Seaport Terminal Wins Bid to Privatise Penang Port

The Transport Ministry has confirmed that Seaport Terminal (Johor) Sdn Bhd has won the bid to privatise the Penang Port, according to bintuluport.com.

In a written reply to Chong Eng (DAP – Bukit Mertajam), its minister Datuk Seri Kong Cho Ha said the company won the bid via its equity ownership in Penang Port Sdn Bhd.

“Negotiations with the company on the privatisation agreement is still ongoing,” he said.

Kong said one of the conditions to be included in the agreement was for the company to bear the costs of dredging works in the port.

It was reported that the Penang Port Commission (PPC) had said any decision on the port’s fate was at the discretion of Prime Minister Datuk Seri Najib Tun Razak.

Discussions had been ongoing for years to increase the efficiency of the port.

[mappress]

Dredging Today Staff, June 14, 2012