KUALA LUMPUR: Westports Holdings Bhd’s wholly-owned subsidiary, Westports Malaysia Sdn Bhd (WMSB), is acquiring 154.2 hectares of undersea land in Pulau Indah, Selangor, from the Selangor State Development Corporation (PKNS) for RM116.185 million.
Westports said the land would be used to expand the container terminals, as the current preliminary port design for Container Terminal 10 to Container Terminal 19 required additional land acreage to accommodate new wharf and container yard space to facilitate effective operations of the new container terminals.
In a filing with Bursa Malaysia today, it said the utilisation of the proposed land would be possible only after land reclamation has been carried out.
The company added that the purchase consideration would be satisfied entirely in cash, funded by internally generated funds.
WMSB, which is principally involved in the development and management of ports operations, has carried out land reclamation works at its existing Container Terminal 6, 7, 8 and 9.