In a bid to handle the increase in shipping activity in the region, China and Malaysia are currently in talks to build a third terminal at Port Klang, which has also been proposed in response to China’s One Belt, One Road plan, according to Free Malaysia Today.
This follows news that China and Malaysia were to announce a collaboration project with Malaysia for two key ports in both countries.
The initiative is set to open up more business opportunities between both Port Klang and China’s Lianyungang Port.
The One Belt, One Road plan aims to create both land and sea connections to boost global trade and enhance cooperation between countries along the Indian Ocean.
It was previously reported that China has already invested more than US$50 billion into the project, with a number of port projects finalised in recent months.
The project began to take shape when China recently agreed to invest $45 into Pakistan in order to create the China-Pakistan economic corridor.
A total of $2.5 trillion has been promised by China as a result of its new maritime transport initiative.
Cargo handling capacity is expected to reach 16.3 million TEU by 2020 at Port Klang.
