KUALA LUMPUR: Sabah Ports Sdn Bhd (Sabah Ports) has obtained a RM80 mil Tawarruq Financing Facility from Bank Pembangunan Malaysia Bhd (BPMB) to fund the Sapangar Bay Oil Terminal jetty extension project.
In a statement today, BPMB president/group CEO Arshad Mohamed Ismail said the project would bring in many positive changes to the port area and to the state itself.
“Bank Pembangunan will continue to support the developmental agenda whilst promoting sectors of strategic importance to the overall socio-economic development of the country,” he added.
The Tawarruq Financing Facility is offered under BPMB’s Maritime Fund 2.0, and the bank also offers other financing facilities under its Industry Digitalisation Transformation Fund, Sustainable Development Financing Fund, Public Transport Fund and Tourism Infrastructure Fund.
Meanwhile, Sabah Ports managing director Ng Kiat Min said the company is looking forward to undertaking a more significant role in promoting oil and gas activities and maritime services in the state. – Feb 24, 2020, Bernama
