The Port of Antwerp-Bruges and the Perbadanan Kemajuan Negeri Perak (PKNP), a state development agency in Malaysia, have forged a strategic cooperation to develop the Port of Lumut.
According to the Port of Antwerp-Bruges, the European Commission has awarded a €1.9 million ($2 million) grant for feasibility studies, recognising the port’s potential as a logistics and industrial hub. For the Port of Antwerp-Bruges, this is the first major project in Southeast Asia.
Malaysia lies in a major international shipping lane between the Strait of Malacca and the South China Sea.
Lumut, in Perak state, is a small port between Kuala Lumpur in the south and Penang in the north. The Port of Antwerp Bruges feels that the port has good potential as a logistical and industrial hub.
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Port of Antwerp Bruges International (PoABI), a subsidiary of the Port of Antwerp-Bruges, provides advice, management solutions, investment projects, and training to international ports and terminals. PoABI and PKNP established a development business as part of the Port of Lumut development.
This organisation brings together PKNP’s local experience and network with PoABI’s worldwide competence in project management, port administration, and training to enable the establishment and operation of the Lumut Maritime Industrial Cluster (LUMIC).
The strategic partnership intends to transform Lumut into a world-class marine centre and a driving force for Perak’s economy.
Kristof Waterschoot, Managing Director PoABI, said: “The official establishment of this development company underlines our commitment to the development of LUMIC.
“Together with our partner PKNP, we are ready to create a sustainable industrial cluster, which will not only boost the local economy, but also contribute to the broader vision of progress and innovation for the state of Perak in Malaysia.”
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After similar projects in Duqm and Namibia, this is PoABI’s first major project in Southeast Asia.
Given its strategic position and international investors’ strong belief in Malaysia as the future hub of the logistics chain, the European Union has approved a grant of €1.9 million ($2 million).
This grant will be used to conduct multiple feasibility studies. Four Malaysia investigations are reportedly ongoing, providing the framework for a focused approach in 2024.
In the following year, PoABI noted that efforts will be focused on Lumut and if this port can serve as a gateway to Europe. This will concentrate on the proposed master plan for LUMIC.
