Westports is in the process of buying the land it needs to expand Port Klang.
The Malaysian port operator plans to buy a piece of leasehold land under the sea in the Malaysian island region of Pulau Indah in the Klang District for US$ 29.5 million in cash.
The sale and purchase agreement with Selangor State Development Corp (PKNS), a statutory body and development agency for the state of Selangor, is for 381 acres (154.18 hectares) of land, but only on the condition that it is for the purpose of terminal expansion.
Westports’ announcement on April 30, 2018, stated that utilization of the proposed land for terminal expansion will only be possible after the completion of land reclamation at its existing container terminals 6, 7, 8 and 9 at Port Klang.
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The proposed acquisition is not subject to the approval of the shareholders of Westports.
Westports stated: “The current preliminary port design for Container Terminal 10 to Container Terminal 19 requires additional land acreage to accommodate new wharf and container yard space in order to facilitate the effective operations of new container terminals.”
