Malaysia’s Northport has plans to spend 1 billion ringgit (about US$328.8 million) to finance new redevelopment projects over the next five years, beginning in 2014, according to Abi Sofian Abdul Hamid, Northport’s CEO.
Under the proposed plan, the terminal operator intends to upgrade its container wharf facilities, comprising wharfs 8, 9 and 10, and buy new container handling equipment for bigger ships and more capacity. The redevelopment will also include upgrading of the conventional cargo terminals in Northport for break bulk, liquid and dry bulk cargo.
The project still needs approval from the board, Abdul Hamid said. He added that Northport will have to raise funds for the project, which will be announced once the process has been finalized.
Northport has already purchased electric rubber-tire gantry cranes as part of the redevelopment project, Abdul Hamid said in a separate brief.