Sepanggar Port expansion to tap BIMP-EAGA Mart
Published on: Monday, March 14, 2022
.jpg "Sepanggar Port expansion to tap BIMP-EAGA Mart")
Signing ceremony of the First Tier ICP Agreement (FTIA) and Main procurement contract on the Proposed Expansion of Sapanggar Container Port, involving Sedia, and WCT Holdings Bhd with joint-venture partner, China Communications Company (M) Sdn Bhd (WCJV) attended by Hashim (third from left) and Yamani ( third from right).
SABAH will push ahead with the Sapanggar Bay Container Port (SBCP) expansion to boost the state’s potential as the trade gateway to the Brunei, Indonesia, Malaysia and Philippines – East Asean Growth Area (BIMP-EAGA) region, and improve connectivity to international markets.Sabah Economic Development and Investment Authority (Sedia) inked a First Tier Industrial Collaboration Programme (ICP) Agreement (FTIA) and main procurement contract on the Proposed Expansion of SBCP, with WCT Holdings Bhd and joint-venture partner, China Communications Construction Company (M) Sdn Bhd (WCJV) in Kota Kinabalu.
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“This project is major key driver in upgrading, modernising port facilities and infrastructure, on line with the vision of upgrading Sepanggar Port into a main regional transhipment hub, and enhance Sabah’s potential as the trade gateway for BIMP-EAGA,” said Deputy Finance Minister II Haji Yamani Hafez Musa.
Yamani lauded the commitment by WCJV in successfully carrying out the ICP programme throughout the construction period under contract expected to conclude by the end of Feb 2025.
To steer the country towards recovery amid the impact of the Covid-19 pandemic, Yamani said the Malaysian Government announced the 12th Malaysian Plan (12MP) 2021-2025 to pave the way forward to restore the economic stability of the people, and expedite economic growth across the country.
“This announcement is supported by the National Budget 2022 and presented by the Ministry of Finance, with a total of RM332.1 billion allocated to give focus on initiatives to build the country’s recovery, recovery and reform,” he said.
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Yamani said the implementation of the ICP has entered a new era in driving economic recovery, while enhancing competitiveness and resilience of local industries, including small, micro and medium enterprises (PMKS).
“Under the 12MP, the ICP play an important role as a strategic tool to enhance, expand and uplift the value chain in strategic and high-impact sectors while reaching selected markets,” he said.
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Meanwhile, Sedia Chief Executive Officer, Datuk Seri Hashim Paijan said the mega project is set to be a game-changer, as the upgrading of SBCP into a transhipment hub is poised to bolster trade and commercial activities in the region, noting Sedia will continue to play its role in planning and carrying out high-impact projects for Sabah’s progress and development.
He said the project will be carried out for a duration of 42 months beginning from September 1, 2021, and expected completion is on February 28, 2025. Upon completion, the capacity of SBCP will be elevated to 1.25 million TEUs annually, from the existing 500,000 TEUs per year.
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