PETALING JAYA, 2 September: Malacca Gateway master developer KAJ Development Sdn Bhd (KAJD) has inked a RM30 billion memorandum of agreement (MoA) with Powerchina International Group Ltd for the development of three islands under the Melaka Gateway project, more than two years after its launch in 2014.
In a joint statement yesterday, KAJD said it will partner Powerchina International for the three islands which have been earmarked for various tourism, commercial, property and maritime developments.
KAJD said the total investment of RM30 billion was allocated for a span of two years from the date of the MoA.
“Upon completion in 2025, we are expecting to draw in an estimated 2.5 million visitors per annum to Malacca Gateway, and the creation of 40,000-45,000 job opportunities,” its CEO Datuk Michelle Ong said.
“There will be immense trade volume with Malacca Gateway’s port and industrial developments, especially with the special economic zone.”
KAJD said the fourth island at Malacca Gateway, which has been designated as a container and bulk terminal, shipbuilding and ship-repair services hub and maritime industrial park, will be developed by the group together with Guangdong, China, and Chief Minister Inc.
Powerchina International has already deployed its technical teams to review the current technical data, carry out initial feasibility studies, consulting and design works at Malacca Gateway, it added.
— THE SUN