Business Today – BPMB Approves RM373 Million Financing For Perlis Inland Port
KUALA LUMPUR, 15 January 2024
Bank Pembangunan Malaysia Berhad has the approval of Tawarruq Asset Financing Facilities amounting to RM373.54 million to Inland Port Perlis Sdn Bhd (IPPSB).
This dedicated financing, spanning up to 20 years, is allocated for the Engineering, Procurement, Construction, and Commissioning costs of the integrated inland port facility, Perlis Inland Port, situated in the Chuping Valley Industrial Area, Perlis.
Occupying 500 acres of land, Perlis Inland Port represents a strategic initiative to streamline Malaysia-Thailand cross-border trade, alleviating capacity constraints of the existing Padang Besar Container Terminal. Upon completion, it will function as the sole cross-border freight rail and road point between Malaysia and Thailand via Perlis.
Roni Abdulwahab, Group Chief Executive Officer of Bank Pembangunan said, “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. 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.
Dato’ Shabaruddin Ibrahim, Group Executive Chairman of Mutiara Perlis Sdn. Bhd. said, “This financing from BPMB is a crucial step towards achieving the Perlis Inland Port project”.
Upon completion, the project is expected to generate 520 direct and 3,500 indirect employment opportunities, with over 80% of these positions designated for the local community.
The project is planned to unfold in three phases, with Phase 1 anticipated to commence operations in the first quarter of 2025. Upon the successful completion of all three phases will boast state-of-the-art infrastructure capable of accommodating up to 2 million Twenty-foot Equivalent Units (TEU) per annum. « Back