The Port of Tanjung Pelepas (PTP), a joint venture between APM Terminals and Malaysian conglomerate the MMC Group, will invest MYR750 million (US$179.2 million) to expand its capacity within the current year.
PTP CEO Marco Neelsen said the port, which currently has a capacity of 11.5 million TEUs, would grow to accommodate 12.5 million TEUs within the next six months. Works that will be carried out will include the installation of 18 new quayside and yard cranes, expansion of existing yard facilities, and the construction of an additional berth.
Mr Neelsen said the company agreed to implement the planned expansion activities after the port registered a total volume of 11.2 million TEUs at the end of 2021, a 14 per cent increase in yearly volume from 9.8 million TEUs in 2020.