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| Najib looks at a model of the redesigned Kuantan Port. |
Prime Minister Datuk Seri Najib Tun Razak said the expansion of the port was expected to be a game changer in terms of ECER's positioning as a key investment and trade destination.
Najib said an upgraded and modernised Kuantan Port would place Malaysia as one of the top trading nations in the world.
"Kuantan Port's comparative advantage lies in its strategic location facing the South China Sea and in the middle of the busiest shipping lanes in the world.
"Hence, the newly-expanded Kuantan Port is well positioned to serve as a world class multi-purpose port for regional trade in Asean, the Far East and the rest of the Asia Pacific," he said in his speech during the launching ceremony.
Najib said in addition, Kuantan Port offered the shortest, quickest and most direct route between Malaysia and the ports in the Far East.
He said shipping community stood to benefit in terms of cost savings and reduction in shipping time.
"We can also expect the Kuantan Port expansion to help unlock the true value of the resource-rich ECER hinterland by attracting more investors to the region.
"These in turn will fast-track the growth of the local economy," he added.
Najib said with the expansion, Kuantan Port's total throughput was expected to double to 52 million tonnes of cargo from the current 26 million tonnes.
He said direct investments at the port were estimated at RM4.1bil with the creation of 1,352 jobs for the locals.
"The upgraded port will also serve as a catalyst to achieve the overall investments and job growth for ECER to RM110bil and 220,000 vacancies respectively by 2020," he said.
During the ceremony, Najib also witnessed an exchange of sharesale agreement between the Guangxi Beibu International Port Group and Road Builder (M) Holdings Berhad.
(Source: The Star Online)
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