The Edge – Bank Pembangunan approves RM374m financing for Perlis Inland Port, fostering cross-border trade.
KUALA LUMPUR, 15 January 2024
Bank Pembangunan Malaysia Berhad (BPMB) has announced the approval of RM373.54 million in Tawarruq Asset Financing Facilities for Inland Port Perlis Sdn Bhd (IPPSB).
IPPSB is a wholly-owned unit of Mutiara Perlis Sdn Bhd, a JVCO between Mutiara Infra Sdn Bhd & Menteri Besar Inc Perlis (MBI Perlis).
Perlis Inland Port has three phases, and is set to commence operations in 1Q2025. The port aims to handle up to two million twenty-foot equivalent units (TEU) annually.
The financing of up to 20 years is for the engineering, procurement, construction and commissioning costs of the integrated inland port facility dubbed the Perlis Inland Port in the Chuping Valley Industrial Area, BPMB said in a statement.
The port strategically streamlines Malaysia-Thailand cross-border trade, spanning 500 acres of land by addressing capacity constraints at the Padang Besar Container Terminal, it said.
The port is poised to become the sole cross-border freight rail and road point between Malaysia and Thailand via Perlis upon completion, BPMB said.
Upon completion, it aims to generate 520 direct and 3,500 indirect employment opportunities, with over 80% dedicated to the local community, the development financial institution added.
“This project is part of our dedication to catalyse positive change and progress, in line with our purpose of delivering impact capital for national development,” said BPMB group CEO Roni Abdulwahab.
“Perlis Inland Port is a Public Private Partnership under the 12th Malaysia Plan and the National Transportation Plan 2030, to achieve the government’s Madani aspirations. It also complements the New Industrial Master Plan 2030,” Roni said.
Meanwhile, Mutiara Perlis group executive chairman Datuk Shabaruddin Ibrahim stated that BPMB’s financing reflects a commitment to boost economic growth in the Perlis state as well as the national economy.
“We are proud and grateful to be the driving force behind this transformative project, which aligns perfectly with our vision for sustainable development and progress,” Shabaruddin said. « Back