The Port of Tanjung Pelepas (PTP) in Johor said it expects another major tenant to move into its free trade zone before the end of the year.

The port operator's chief executive officer Datuk Mohd Sidik Shaik Osman said the high-technology company will occupy about 16ha to 20ha within the 403ha Pelepas Free Zone and will invest some RM500 million.

He did not name the new tenant.
 
So far this year, the port has won two major tenants, namely Singapore-based contract manufacturing giant Flextronics International Ltd and Japan's JST Manufacturing Co.

Mohd Sidik said that in the last two years, the port had focused on developing the Pelepas Free Zone, which is beginning to see the start of an industry cluster for electronics, which over time will have a significant impact on the local cargo volumes handled by the port.

He was speaking to reporters after the signing of a RM741 million loan agreement between PTP and Bank Pembangunan Dan Infrastruktur Malaysia Bhd in Kuala Lumpur yesterday.

PTP was represented by Mohd Sidik, while Bank Pembangunan president and managing director Datuk Abdul Rahim Mohd Zin signed on behalf of the bank.

Mohd Sidik said the new loan will be used to part- finance Phase 2 of the port development programme, which includes the construction of berths seven to 10 and the purchase of equipment.

"An estimated RM1.3 billion is needed for PTP's Phase 2 development," he said.

To date, berths seven and eight with a few rows of the container yard have been completed and are operationa