The UK-based building materials specialist has committed to invest an initial amount of about RM 5million to RM 10million in building a private jetty which would be used to export building materials to Singapore and subsequently to other South-East Asian countries.

In a tatement released in Kuala Lumpur, PTP said the contract was signed by executive director Encik Mohd Sidik Shaik Osman, who represented PTP, and Hanson Pasific (S) Pte Ltd chief executive Hugh R. Winokur.

At hand to witness the ceremony was PTP executive chairman Datuk Mohd Taufik Abdullah and also in attendance were senior officials from both companies.

Essentially, the contract gives Hanson the right to build, develop and operate the six acres site at PTP for a period of 10 years. The minimum throughput expected to be generated at this jetty will be at least 250,000 tonnes for the first year and 500,000 tonnes for the following years.

In this regards, PTP's location at the confluence of international shipping lanes and within within 10 minutes by road to the Second Link will be of strategic benefit to Hanson as Singapore provides the linkages to its international customers.

It is estimated that some 70 per cent of the company's products will be exported via lorries to Singapore.

Apart from PTP's startegic location, key factors that attracted Hanson to the port were the low labour coat and competitive rates including cheap land rates and linkages to a vast hinterland.

With the securing of this contract, PTP has now begun to attract considerable attention from investors in the manufacturing, industrial, and commercial sectors, especially with its vast leaseable land area of 1036 acres.

With comparatively lower cost at PTP, export oriented investors will be competitively well-paced. Current developments outside the port area will also strenghten PTP's vast hinterland thus creating a cargo base for PTP.

Scheduled to begin commercial operations in January next year, PTP also offers ideal harbour conditions including a sheltered bay with naturally deep waters allowing for accessibility of the world's largest Super Post Panamax vessels.