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Malaysia's Borneo Sapangar Bay box shop to become big transshipment hub
MALAYSIA plans to invest US$200 million on expanding the Sapangar Bay Container Port on the island of Borneo, far away from its main shipping assets at Westports and Port Klang near Singapore.
Malaysia says its goal is to bring about balanced economic development through enhanced port connectivity between its more remote Sabah provincial hinterland and the global market.
While the Sapangar Bay Container Port will serve as the main gateway to the region and the global economy at large, it also beefs up Malaysian economic interests where China is making a controversial landgrab offshore.
The approval by Malaysia's federal government for the expansion of Sapangar Bay Container Port marks a significant recognition for the country to develop its port infrastructure, reports the Los Angeles area Global Trade Magazine.
The Government of Malaysia has a stated goal of bringing about balanced economic development in the state of Sabah through enhanced port connectivity.
Cities, such as Greater Kota Kinabalu have always played an important role in a nation's growth by providing investment and trade opportunities, as well as improving connectivity with rural or suburban areas and the global market.
Sapangar Bay Container Port will serve as the main gateway not just for Sabah, but also to the region of ASEAN economies of those of signatory countries to the Trans-Pacific Agreement, and the global economy at large, according to a government statement.
Under the Eleventh Malaysia plan, the Sapangar Bay Container Port will be developed into a transshipment hub. A master plan to upgrade and expand Sapangar's infrastructure will be prepared this year.
The transshipment hub strategy will boost the state's connectivity to international markets generating higher volume of cargo to attract more shipping lines to call at Sapangar Bay. This, it is hoped, will be the long-term catalyst to the industrial activities in the state.
The hub and spoke system will see Sapangar Bay Container Port as a load centre supported by other ports such as Sandakan, Lahad Datu, and Tawau Ports.
The government had approved the expansion of Sapangar Bay Container Port as a project under the Sabah Development Corridor initiative. Sabah Ports Sdn Bhd, a 100 per cent-owned subsidiary of Suria Capital Holdings Berhad, the operator, has been appointed as the implementing agency.
The sum of MYR800 million (US$200 million), has been allocated under the plan, to be staggered over this year and 2017.
The long-term plan, expected to be carried out up to 2030, will generate investment opportunities for the private sector in the provision of port services and activities as well as throughout the logistics supply chain.
Malaysia says its goal is to bring about balanced economic development through enhanced port connectivity between its more remote Sabah provincial hinterland and the global market.
While the Sapangar Bay Container Port will serve as the main gateway to the region and the global economy at large, it also beefs up Malaysian economic interests where China is making a controversial landgrab offshore.
The approval by Malaysia's federal government for the expansion of Sapangar Bay Container Port marks a significant recognition for the country to develop its port infrastructure, reports the Los Angeles area Global Trade Magazine.
The Government of Malaysia has a stated goal of bringing about balanced economic development in the state of Sabah through enhanced port connectivity.
Cities, such as Greater Kota Kinabalu have always played an important role in a nation's growth by providing investment and trade opportunities, as well as improving connectivity with rural or suburban areas and the global market.
Sapangar Bay Container Port will serve as the main gateway not just for Sabah, but also to the region of ASEAN economies of those of signatory countries to the Trans-Pacific Agreement, and the global economy at large, according to a government statement.
Under the Eleventh Malaysia plan, the Sapangar Bay Container Port will be developed into a transshipment hub. A master plan to upgrade and expand Sapangar's infrastructure will be prepared this year.
The transshipment hub strategy will boost the state's connectivity to international markets generating higher volume of cargo to attract more shipping lines to call at Sapangar Bay. This, it is hoped, will be the long-term catalyst to the industrial activities in the state.
The hub and spoke system will see Sapangar Bay Container Port as a load centre supported by other ports such as Sandakan, Lahad Datu, and Tawau Ports.
The government had approved the expansion of Sapangar Bay Container Port as a project under the Sabah Development Corridor initiative. Sabah Ports Sdn Bhd, a 100 per cent-owned subsidiary of Suria Capital Holdings Berhad, the operator, has been appointed as the implementing agency.
The sum of MYR800 million (US$200 million), has been allocated under the plan, to be staggered over this year and 2017.
The long-term plan, expected to be carried out up to 2030, will generate investment opportunities for the private sector in the provision of port services and activities as well as throughout the logistics supply chain.
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