PETALING JAYA: Three Chinese companies are helping a Malaysian company build a new deep sea port in the Straits of Malacca, Xinhua reported.
It reported that the port, part of the RM30 billion Melaka Gateway Project, was estimated to cost around RM8 billion.
It will be built with the help of PowerChina International, Shenzhen Yantian Port Group and Rizhao Port Group, Xinhua reported.
The port is expected to be completed by 2019.
KAJ Development, the Malaysian company, in a press release, said the port was designed as a liquid cargo terminal.
It will have storage facilities for petroleum, chemical products and vegetable oil.
It will be ideal as a port with its deep waterway of 25 to 30 metres.
Transport Minister Liow Tiong Lai and China’s Ambassador to Malaysia Huang Huikang attended a foundation-laying ceremony in Malacca yesterday.
Liow said 100,000 vessels used the Straits of Malacca every year.
He said the project was in accordance with the “Belt and Road” initiative put forward by China.
Xinhua quoted Wang Bin, a senior manager of PowerChina International, as saying the port also had sentimental ties for China.
This was because Admiral Zheng He had made several visits to Malacca during the Ming Dynasty. For China, building a sea port in Malacca is not only for economic returns, but also part of the historic legacy both countries share.