30 Jul '12, 10am

Who Owns Port Dredging Concession?: From Dredging of a ports is big business and can cost hu...

Dredging of a ports is big business and can cost hundreds of millions of ringgit. Do you know who has the concession to dredge ports in Malaysia? The federal government wants to privatise the Penang port operations to Syed Mokhtar’s Sea Terminal Shd Bhd. In Penang, the dredging of the northern channel is expected to cost RM350m. Transport Minister and MCA secretary-general Kong Cho Ha was reported as saying that “one of the conditions in the privatisation agreement for the Penang port is that the successful company must bear the cost of dredging Penang Port”. So which companies are involved in port dredging in Malaysia? According to the Borneo Post, Integrated Marine Works, incorporated in 1993, entered into a 15-year concession agreement with the Malaysian government in 2004 to carry out the dredging of all ports and harbours under federal jurisdiction. IMW has been invol...

Full article: http://anwaribrahimblog.com/2012/07/30/who-owns-port-dred...

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