IPOH, Dec 11 — Perak State Development Corporation (PKNPk) and leading European industrial port, Port of Antwerp-Bruges International (PoABI) has been awarded an RM9.5 million grant by the European Union (EU) today to conduct a study which will assess Malaysia’s attractiveness in the port and maritime sector.
Perak Menteri Besar Datuk Seri Saarani Mohamad said that the EU grant is a noteworthy achievement that reaffirms the state’s value as a significant investment destination.
“It will also be a catalyst to unlock Lumut’s massive potential as a formidable engine of inclusive, economic growth for Perak.
“Together with our collaborative partner PoABI, we look forward to kicking off this comprehensive study to develop a robust blueprint in transforming Lumut into a world-class maritime hub,” he told a press conference after attending the announcement ceremony regarding the EU grant by PoABI and PKNPk at Hotel Casuarina @ Meru here, today.
Saarani who is also PKNPk chairman said that this approved grant would be utilised for a feasibility study under the program led by PKNPk in collaboration with external consultants and PoABI. “To implement the development of Lumut Maritime Industrial City (LuMIC), both parties will form a Special Purpose Vehicle (SPV) called LuMIC DevCo to carry out a joint venture to develop and manage the integrated maritime industrial hub in Manjung district and surrounding areas in the state.
“Furthermore, collaborating with PoABI as the strategic partner will involve a comprehensive study of LuMIC’s development plan, emphasising direction, strategy, sustainable environmental standards, and value chains,” he said.
Saarani said the overall study comprises nine assessments, of which four initial assessments will focus on covering Malaysia in general with the intention of attracting possible EU or other foreign investors.
He said balance five assessments will focus on a roadmap of Malaysia’s gateway function, emphasising a master plan with strategic direction and sustainable practices for Lumut. Among others, the areas of grant utilisation will include the assessment of connectivity, foreign direct investment (FDI) competitiveness, and trade and cargo flow analysis.
The final assessment will cover Roadmap, Green Energy Hub, Nautical Expert, Environment & Social Impact Expert which will lead to the formulation of the development of a Masterplan and Business Plan for Lumut.
Saarani added that PKNPk will contribute the local expertise and networks, while PoABI will provide international-level project management, consulting services, and training.
He pointed out that the development of the industrial cluster in Lumut is a 25-year endeavour expected to generate over 50,000 jobs and various business opportunities.
“This is a testament to our commitment to transforming Perak’s economy. We are on the right track in transforming Perak’s economy.
“Through proactive and aggressive planning strategies by the state government agencies, especially PKNPk, local and foreign investors are now positioning Perak as a potential investment destination based on high-impact projects that will drive Perak’s economic growth in the next 10 to 20 years,” he said.
Earlier, Saarani witnessed the signing of Joint Venture Shareholders’ Agreement between PKNPk chief executive officer Datuk Redza Rafiq Abdul Razak and PoABI Managing Director Kristof Waterschoot.
Also present were Ambassador of the Kingdom of Belgium to Malaysia, Peter Van Acker and Ambassador and EU ambassador to Malaysia, Michalis Rokas.
