Port and terminal operator Westport Holdings Bhd saw a net profit increase of 10.22% in Q1, 2015, as it took around US$33.7 million due to increased throughput and efficiency at its ports.
PTI previously reported that Westports is planning to build a $300m container terminal – entitled container terminal 8 (CT8) – to be built over the next three years.
In the Malaysia Insider, Ruben Emir Gnanalingam, CEO at Westports is quoted as saying: “To cater for the increasing container volume, we have commenced on our CT8 expansion, which phase-one is expected to complete in early 2016 and phase-2 by mid-2017.
“Our container handling capacity will be increased from the current 11 million TEU to 13.5 million TEU by then.”
As reported by the Star Online, around $112m is to be spent on phase one of the terminal’s construction.
Ruben concluded: “We have no plans to raise any debt this year; probably next year we will do it to fund the CT8 development.”