Dubai's PCFC spreads wings over Malaysia
Contract follows after less than a month from start of work at Djibouti Free Zone
Dubai’s Ports, Customs & Free Zone Corporation has started to earn its spurs overseas. Its subsidiary, Dubai International, has picked a 15 year management contract to develop and manage Port Klang Free Zone in Malaysia. This follows its start on the Djibouti Free Zone, which was announced less than a month ago.
Dato Seri Najib Razaq, Malaysian Deputy Prime Minister, Sultan bin Sulayem, PCFC executive chairman, Mohammed Sharaf, DI managing director and a number of high-ranking officials, dignitaries and businessmen, attended the ground-breaking ceremony in Port Klang. The Malaysian Government is investing US $520 million to develop a commercial and industrial free zone over 405 hectares, in collaboration with Jebel Ali International.
The development is projected to take up to two years to complete. The PKFZ targets multinationals, small and medium size industries, distribution firms, value-added and logistics services offering a strategic location with a potential reach to the vast market covering the Asean countries and regions beyond. The development of the free zone is part of Selangor state government’s plans to make PKFZ into an industrial and commercial centre.
Development works include the construction of multi-storeyed smart office buildings in which facilities are designed for use as operations and trade offices as well as facilities for conventions and trade exhibitions. The project also calls for development of warehouses and vacant plots with full infrastructure facilities. Investment opportunities are also offered to those interested in leasing ready-built facilities or leasing land to build their own facilities.
The project is planned as self-contained development. All the support needed for business are readily available within the area or conveniently nearby from clearing agents and freight forwarders, ships agents, road and rail haulage.
“This move comes as part of our strategic plan for global expansion. It complements Dubai International series of successes, including Djibouti Free Zone, which was launched last month, and where occupancy has already surpassed expectations with 60% booked,” bin Sulayem said.
The Malaysian Deputy Prime Minister said PKFZ is the second largest development project after the Malaysian Government set up the full services port in 1990.
Dato Seri Najib added the free zone complements the Malaysian Government’s policy for Port Klang to be developed as a future important regional hub for distribution and logistics and commercial services. Port Klang links to 120 countries and 500 ports.