PTP to allocate RM500m capex for machines and refurbishment
The Malaysian Reserve
MMC Corp Bhd’s 70%- owned port business, Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), plans allocate RM500 million for capital expenditure (capex) next year on new machines and facility refurbishment to cater to the growing demand of container transshipment.”
PTP CEO Glen Hilton (picture) said the port operator has spent about RM300 million this year to add 26 rubber-tyred gantries (RTGs) to its current 174 RTGs.
He added the allocation for next year would be for the acquisition of new prime movers and RTGs as well as refurbishment of key cranes.
“We are investing on some new equipment that will come by the third-quarter of next year,” Hilton told reporter during a media familiarization trip to the port yesterday.
The initiative is in line with PTP’s plan to grow its total twenty-foot equivalent units (TEUs) handling capacity to 15 million TEUs by 2018.
Hilton is optimistic PTP will achieve its total container volume of 9.2 million TEUs by year end, from 8.5 million TEUs recorded in 2014.
Up to November, the port has recorded 8.3 million TEUs with more than 50% of the volume contributed by its two big clients, Maersk Line and Mediterranean Shipping Co.
Maersk Line is the sister company of APM terminals that holds a 30% stake in PTP.
Hilton added the port will consider expanding its free trade zone to meet demand.
At present, the total land area for PTP’s free trade zone stood at about 607.30ha but 364.22ha has not been developed yet.
The remaining 242.81ha currently accommodate about 40 manufacturing and logistics companies with an accumulated investment of about RM2.6 billion.